WalmartTuesday, it was announced that the company has been hired PayPalJohn Rainey will become the company’s new chief financial officer.

Rainey, chief financial officer for a financial tech company, will assume the role starting June 6. Longtime CFO Brett Biggs will be replaced by Rainey. announced in NovemberThat he would resign.

Doug McMillon (CEO Walmart) stated that Rainey had a “proven track record” of leading innovation in customer service departments at large scales.

McMillon expressed confidence that John’s combination of digital and financial acumen will enable us to provide for customers and shareholders in the ongoing transformation of our company.

Rainey joined Walmart in pursuit of new revenue streams. Rainey will join Walmart to help the retailer grow its third party marketplace, and expand its advertising business. The company has made investments in other areas. It has invested in new areas. created and backed a fintech start-upThis board is headed by ex-Goldman Sachs bankers. Biggs is Walmart’s former CFO.

This is a developing story. Keep checking back for more updates.