Walmart welcomes John Rainey, an ex PayPal CFO, as its new Chief Financial Officer. Walmart, the largest retailer in the US, plans to grow its digital financial offerings while augmenting its e-commerce platforms for consumers. Brett Biggs will stay in the office as an advisor till Rainey joins. Biggs will help him take on his new responsibilities and get comfortable with the new role. Joseph Feldman, an analyst at Telsey Advisory Group, revealed that it was surprising to see the retail giant hire someone from another firm. John Rainey comes with a profound understanding of the digital/omnichannel world, consumer fintech, and experience in customer-facing businesses, and this decision will surely help Walmart track digital growth.
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