Walmart CFO Charles Holley Announces Retirement

Wal-Mart Stores Inc. said Friday that CFO Charles Holley will be retiring after 20 years with the company.

Brett Biggs, 47, will be his successor. Both changes are effective Dec. 31, though Holley will stay with the company until Jan. 31, 2016, to assist with the transition.

Holley, 59, has served as Walmart’s executive vice president and CFO since December 2010.

“Charles has overseen our global finance and strategy areas during a period of immense company growth and change,” Walmart CEO Doug McMillon said in a prepared statement. “He has been instrumental in shaping Walmart’s strong financial position while driving significant shareholder returns.

“One of Charles’ strengths is also talent development and succession planning. Under his leadership, Walmart’s finance function has transformed into a best in class organization that is both strong and deep, highlighted by today’s appointment of Brett as our new CFO.”

Since January 2014, Biggs has served as executive vice president and chief financial officer of Walmart International, where he is responsible for international strategy and finance activities, including business planning and analysis, financial services, and support for real estate and mergers and acquisitions. 

“Brett is a strong leader whose broad experience uniquely qualifies him to lead our finance and strategy areas,” McMillon said. “Having had a variety of important roles in all three of Walmart’s business segments, Brett is well prepared. He thoroughly understands Walmart’s operations, how we intend to compete in a dynamic and changing retail environment and how we can best serve customers, associates and shareholders.”

To read the full news release, click here.