Walmart is shopping for a new chief financial officer.
The mass-merchant retailer said Monday that longtime CFO and executive vice president Brett Biggs will be transitioning out of the role next year, after more than two decades with the company.
“My time at Walmart these past 22 years has been incredible,” Biggs said in a statement. “It has been a privilege to work alongside [Walmart CEO] Doug [McMillon], 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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The CFO will remain on the job until a successor is named sometime next year. Biggs will then help aid in the transition as an associate of Walmart, as well as a board member on Walmart’s FinTech start-up joint venture with Ribbit Capital, until Jan. 31, 2023.
Biggs, who joined Walmart in 2000, has worked as the company’s CFO since December 2015. During his tenure, he also served as CFO for Walmart International, Walmart U.S. and Sam’s Club, in addition to senior vice president of international strategy, mergers and acquisitions; senior vice president of corporate finance, and senior vice president of operations for Sam’s Club.
Although the company would not disclose Biggs’ next move, it did say he would continue to do for-profit work, in addition to working in the nonprofit sector.
“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 Doug McMillon, Walmart president and chief executive officer. “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.”
Walmart said it will consider both internal and external candidates as Biggs’ replacement.