Walmart announces exit plan for CFO Brett Biggs

On Monday (Nov. 29), Walmart Inc. announced a transition plan to replace Executive Vice President and Chief Financial Officer Brett Biggs. The company said Biggs would begin transitioning from the company next year.

Biggs will remain CFO until Walmart names a successor in 2022 and then support that transition. He will officially leave the company on Jan. 31, 2023.

Biggs has worked at Walmart since 2000. Previously, he held chief financial officer roles for Walmart International, Walmart U.S., and Sam’s Club. He has also worked as senior vice president of international strategy, mergers and acquisitions, and as senior vice president of corporate finance. Biggs was also the senior vice president of operations for Sam’s Club.

“My time at Walmart these past 22 years has been incredible,” Biggs said in a statement. “It has been a privilege to work alongside 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.”

Before joining Walmart, Biggs held various M&A and corporate finance positions with Leggett & Platt, Phillips Petroleum Co. and Price Waterhouse.

Biggs will continue representing Walmart as a board member on Walmart’s FinTech startup joint venture with Ribbit Capital as part of the transition.

Shares of Walmart (NYSE: WMT) closed at $144.96 on Friday.