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BENTONVILLE, Ark. — Walmart chief financial officer Charles Holley plans to retire at the end of this year and will be succeeded by Brett Biggs, CFO of Walmart International.
Walmart chief financial officer Charles Holley plans to retire at the end of this year and will be succeeded by Brett Biggs, CFO of Walmart International.
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Brett Biggs |
Plans call for Holley, 59, to retire on Dec. 31, 2015, and stay on until Jan. 31, 2016, to assist in the transition, Walmart said Friday.
Holley 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. He has been instrumental in shaping Walmart’s strong financial position while driving significant shareholder returns," Walmart president and chief executive officer Doug McMillon said in a statement.
"One of Charles’ strengths is also talent development and succession planning," McMillon added. "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, 47, has served as executive vice president and CFO of Walmart International since January 2014. In that role, he oversees international strategy and finance activities, including business planning and analysis, financial services, and support for real estate and mergers and acquisitions.
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Charles Holley |
Before that, Biggs was CFO of Walmart U.S. from January 2012 to January 2014 and senior vice president of Sam’s Club operations from September 2010 to January 2012. Other roles he has held since joining the company in 2000 include senior vice president and CFO of Sam’s Club, senior vice president of corporate finance and assistant treasurer, and senior vice president of international strategy and M&As.
“Brett is a strong leader whose broad experience uniquely qualifies him to lead our finance and strategy areas,” McMillon stated. “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.”
Holley has been with Walmart since 1994. Besides CFO, other positions he has held at the company include executive vice president of 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.
Overall, Walmart has 11,532 stores under 65 banners in 28 countries. Its 2015 fiscal year revenue totaled $486 billion.
