Walmart Appoints Brett Biggs New Chief Financial Officer
October 09 2015 - 9:19AM
Business Wire
Charles Holley to retire as CFO Dec. 31, 2015
after serving the company for over 20 years
Wal-Mart Stores, Inc. (NYSE: WMT) today announced that Brett
Biggs, 47, will succeed Charles Holley, who has elected to retire
as the company’s chief financial officer. The change will be
effective Dec. 31, 2015, and Holley will stay on until Jan. 31,
2016, to help with the transition. Holley, 59, has served as
Walmart’s executive vice president and chief financial officer
since December 2010.
“Brett is a strong leader whose broad experience uniquely
qualifies him to lead our finance and strategy areas,” said Walmart
President and Chief Executive Officer Doug McMillon. “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.”
McMillon continued: “Charles has overseen our global finance and
strategy areas during a period of immense company growth and
change. 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.”
Biggs will report to McMillon. 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.
Prior to his current role, Biggs served as chief financial
officer of Walmart U.S. from January 2012 until January 2014, and
as senior vice president, Sam’s Club Operations, from September
2010 until January 2012. Previously, he served in a variety of
roles since joining the company in 2000, including senior vice
president and chief financial officer of Sam’s Club, senior vice
president corporate finance and assistant treasurer, and senior
vice president, international strategy and mergers and
acquisitions. Before Walmart, Biggs worked at Leggett & Platt,
Incorporated on its mergers and acquisitions team. Prior to that,
he was an accountant at Phillips Petroleum Company, now
ConocoPhillips, and an auditor at Pricewaterhouse LLP, now
PricewaterhouseCoopers LLP. Biggs is a certified public
accountant.
Holley joined Walmart in 1994 and in his role as CFO held
responsibility for accounting and controls, corporate strategy and
development, business planning and analysis, internal auditing,
treasury, tax and investor relations. He also held roles as
executive vice president, finance and treasurer; chief risk
officer; senior vice president of finance over accounting, tax,
financial reporting and investor relations; Controller; and several
roles in Walmart International, including CFO. Before Walmart,
Holley worked for Tandy Corporation (now Radio Shack) as managing
director for its European Memorex division and served as director
of finance for its international operations.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world
save money and live better – anytime and anywhere – in retail
stores, online, and through their mobile devices. Each week, we
serve nearly 260 million customers who visit our 11,532 stores
under 65 banners in 28 countries and e-commerce websites in 11
countries. With fiscal year 2015 revenue of $486 billion, Walmart
employs more than 2 million associates worldwide. Walmart continues
to be a leader in sustainability, corporate philanthropy and
employment opportunity. Additional information about Walmart can be
found by visiting http://corporate.walmart.com on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart. Online merchandise sales are available
at http://www.walmart.com and http://www.samsclub.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151009005464/en/
Wal-Mart Stores, Inc.Media Relations:Randy
Hargrove, 800-331-0085orInvestor Relations:Pauline Mohler,
479-277-0218
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