Walmart hires Paypal CFO Rainey to replace Biggs

FILE PHOTO: Walmart's logo is seen outside one of its stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski

DALLAS: Walmart Inc has named Paypal Holdings Inc’s finance chief, John Rainey, as its new chief financial officer (CFO).

Rainey will start work at Walmart on June 6, Walmart said in a statement. He will replace Brett Biggs, who last year announced plans to leave the company by early 2023.