John Rainey has been appointed Walmart's new CFO and executive vice president after leading PayPal's global financial operations as CFO and executive vice president of global operations.
“I’m excited and humbled to join such an iconic company at a time when the retail industry continues its transformation,” said Rainey in a statement. “I’ve closely watched Walmart’s transition to an omnichannel company, and I can’t wait to join the management team and our 2.3 million associates to continue to help people around the world save money and live better.”
Prior to his role at PayPal, Rainey worked as CFO and executive vice president at United Airlines. He also currently holds a seat on the Nasdaq's board of directors.
“I’m confident that John’s mix of financial and digital acumen, coupled with his experience leading finance in complex, highly competitive industries, will help us deliver for our customers and shareholders as we continue to transform our company," said president and CEO Doug McMillon, in a statement.
Brett Briggs, Walmart's current CFO will support Rainey during his transition, and will continue to serve as a board member to Walmart's Fintech startup joint venture with Rabbit Capital.
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