Walmart hires PayPal executive as its chief financial officer

Walmart announced today that John Rainey has been named Walmart’s next Executive Vice President and Chief Financial Officer (CFO).  

Rainey currently holds the same post at the financial technology company PayPal and will step in as CFO at Walmart on June 6. 

He will take the reins from longtime CFO Brett Biggs, who announced in November that he would step down.

“John has a proven track record of leading change at scale in customer service organizations innovating in their fields,” said Walmart President and Chief Executive Officer Doug McMillon.  

Rainey currently serves as PayPal’s CFO and Executive Vice President, Global Customer Operations. In this role, Rainey is responsible for all of PayPal’s financial operations. He also leads the company’s Global Customer Operations team, guiding PayPal’s efforts to deliver service experiences through its customer operations centers around the world. 

Prior to PayPal, Rainey was Executive Vice President and CFO at United Airlines and spent a combined 18 years between United and Continental Airlines. He began his professional career at Ernst & Young LLP.

Rainey is also on Nasdaq’s board of directors, where he is a member of the audit committee and chair of the finance committee. He also serves on the advisory board for Baylor University’s Hankamer School of Business.