Walmart’s CFO to depart
Walmart announced that Brett Biggs, executive vice president and chief financial officer, will be departing after 22 years with the company.
Biggs, who was named CFO in 2015, is stepping down to begin a new chapter of opportunities in both the for-profit and nonprofit sectors, the company said.
He will remain in his role until a successor is named in 2022, and afterward support the transition by staying on as an associate until Jan. 21, 2023.
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“Brett’s high character and strong leadership have played a central role during one of the most significant periods in the company’s history,” said Walmart president and CEO Doug McMillon. “His contributions have been a key to the important steps we’ve taken to transform the company on our omni journey. Brett has elevated the finance organization and strengthened the team through his commitment to excellence and talent development. We are fortunate to have benefited from his talents, and we appreciate everything he’s done for the company during his career.”
As part of the transition, he will also continue representing the company as a board member on Walmart’s FinTech startup joint venture with Ribbit Capital.
“My time at Walmart these past 22 years has been incredible,” Biggs said. “It has been a privilege to work alongside Doug, our leadership team and the many talented individuals throughout the company and finance organization. Our company has never been stronger, and I believe we’re set up for continued success to serve customers and deliver a retail experience unlike any other company. Given the tremendous positioning and momentum of the company, now felt like the right time to transition to the next chapter in my personal and professional life. I want to thank Doug, the leadership team, the Walton family and the board of directors for their tremendous support during my career.”
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Biggs joined Walmart in 2000 and was previously chief financial officer at Walmart International, Walmart U.S. and Sam’s Club. He also served as senior vice president of international strategy, mergers and acquisitions, and as senior vice president of corporate finance. Additionally, Biggs was the senior vice president of operations at Sam’s Club.
Prior to joining, Biggs held various M&A and corporate finance positions with Leggett & Platt, Phillips Petroleum and Price Waterhouse.