Walmart has hired John Rainey as Chief Financial Officer, CNBC reports.
Rainey served as CFO for Paypal as well. Current Walmart CFO Brett Biggs announced his departure in November.
One of the big projects Rainey will oversee is the creation of new revenue streams for the big-box store. Walmart has been developing their third-party marketplace and will continue to build up its advertising business. Rainey will take over the CFO role in June.
Walmart CEO Doug McMillion announced the news via press release. In the release, McMillion said that Rainey
“has a proven track record of leading change at scale in customer service organizations innovating in their fields.
“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,” McMillon said.
Rainey also served as CFO for United Airlines.