Walmart hires PayPal exec as chief procurement officer

Tim Ritz will join Walmart on Sept. 18 as the retailer’s new chief procurement officer, according to an internal memo Wednesday (Aug. 23) by CFO John David Rainey obtained by the Northwest Arkansas Business Journal. Ritz is replacing DK Singh, who held the position since 2018. Singh left Walmart earlier this month.

In the memo, Rainey said Ritz will be responsible for delivering strategic business solutions that support business partnerships, enhance service and maximize value for customers and shareholders.

Ritz comes to Walmart from PayPal, where he has spent the past eight years leading procurement and real estate for the financial tech firm.  He also held leadership roles in supply chain and procurement operations at Hertz and United Airlines.

“Tim brings two decades of experience leading complex procurement organizations across industries. Throughout his career, he had built a strong track record for helping businesses deliver meaningful improvements to cost and efficiency through effective supplier relationship management,” Rainey noted in the announcement.

Ritz will report to Rainey and will relocate to Northwest Arkansas to work from the Bentonville home office.