Home News Walmart Taps PayPal’s Finance Chief John Rainey as CFO

Walmart Taps PayPal’s Finance Chief John Rainey as CFO

Walmart Taps PayPal’s Finance Chief John Rainey as CFO

Walmart Inc has appointed PayPal Holdings Inc’s finance head, John Rainey, as a chief financial officer (CFO), the world’s largest retailer said on Tuesday.

Rainey will take over as CFO effective June 6, replacing Brett Biggs, Walmart’s finance chief since 2015, who announced his exit late last year.

Rainey, who announced his departure from PayPal on Tuesday after almost seven years with the payments firm, joins Walmart at a time when retailers across the board are rushing to beef up their e-commerce businesses following the pandemic-led shift to online shopping.

In 2018, Walmart bought a majority stake in Indian online marketplace Flipkart in a $16 billion deal, its biggest overseas investment, and strengthened its U.S. e-commerce business by acquiring apparel retailers Modcloth and Bonobos.

Walmart said Biggs will serve as an adviser until he leaves the company in January 2023.

PayPal said it has appointed senior executive Gabrielle Rabinovitch as interim CFO and launched a formal search for Rainey’s replacement.

Rainey, who is on the board of directors at Nasdaq, also served as CFO at United Airlines.

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...