Today both PayPal and Walmart have announced that John Rainey is leaving and joining their respective companies through separate announcements. After almost seven years at PayPal, Rainey is leaving the company to join Walmart as its CFO and Executive Vice President.
“On behalf of everyone at PayPal, I’d like to express my gratitude to John for his outstanding leadership, selfless partnership, and financial stewardship. John has been an instrumental contributor to PayPal’s growth by helping lay the solid foundation that supports the company’s innovation, global presence, and financial strength,”
“We’re not surprised that one of the world’s top brands has recognized John and his contributions to building PayPal into one of the most innovative technology and financial services companies in the world. We are thrilled for him and we wish him all the best in his next chapter.”Dan Schulman, President & CEO, PayPal.
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 great service experiences through its customer operations centers around the world. Prior to PayPal, John Rainey was Executive Vice President and CFO at United Airlines, one of the world’s largest airlines, and spent a combined 18 years between United and Continental Airlines.
John 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.
“I’m excited and humbled to join such an iconic company at a time when the retail industry continues its transformation,”
“I’ve closely watched Walmart’s transition to an omnichannel company, and I can’t wait to join the management team and our 2.3 million associates to continue to help people around the world save money and live better.”John Rainey
PayPal has begun the search for John’s replacement with Gabrielle Rabinovitch stepping in as the interim CFO for the time being. With such an impressive resume the appointment of John can only be seen as a coup for Walmart which was filling an empty position as their existing CFO Brett Biggs who was leaving to explore new opportunities.
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