Walmart CFO Brett Biggs to depart

Walmart Chief Financial Officer Brett Biggs plans to leave the company in 2023 to pursue other opportunities.

Bentonville, Ark.-based Walmart said Monday that Biggs, who also holds the title of executive vice president, is slated to continue as CFO until a successor is named next year and serve as an associate to assist in the transition until his departure on Jan. 31, 2023. Biggs also will continue to serve as a board member on Walmart’s FinTech startup joint venture with Ribbit Capital.

According to Walmart, Biggs (left) will “begin a new chapter of opportunities in both the for-profit and nonprofit sectors.” The company said it will consider internal and external candidates in appointing a new CFO.

“Brett’s high character and strong leadership have played a central role during one of the most significant periods in the company’s history,” Walmart President and CEO Doug McMillon said in a statement. “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.”

Related:Strong U.S. sales give Walmart third-quarter boost

Biggs, 53, has served as executive VP and CFO at Walmart since Dec. 31, 2015. He joined the company in January 2000 as senior VP of corporate finance and then was appointed senior VP of operations for Sam’s Club in September 2010. He became executive VP and CFO for Walmart U.S. in January 2012 and then executive VP of strategy and CFO of Walmart International in January 2014 before being promoted to his current role as corporate CFO at the end of 2015. He has also served as CFO of Sam’s Club and as senior vice president of international strategy, mergers and acquisitions.

Before coming to Walmart in 2000, Biggs held various merger-and-acqusition and corporate finance positions with Leggett & Platt, Phillips Petroleum Co. and Price Waterhouse.

“My time at Walmart these past 22 years has been incredible. It has been a privilege to work alongside Doug, our leadership team and the many talented individuals throughout the company and finance organization,” Biggs stated. “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.”

Related:Walmart promotes Chris Nicholas to new role of U.S. COO

Walmart finished its 2021 fiscal year, ended Jan. 31, 2021, on a high note. The company saw total revenue rise 7.3% to $152.08 billion ( 7.5% to $152.33 billion in constant currency), including net sales growth of 7.9% at Walmart U.S. ( 8.5% in comparable sales), 8.7% at Sam’s Club ( 8.4% in comp sales) and 5.5% at Walmart International ( 6.3% in constant currency).