Movers & Shakers: Walmart, Lowe’s Name New CFOs; Zappos Appoints New CEO

Welcome to Movers & Shakers, a roundup of the latest executive movements in the retail industry.
john rainey
John Rainey

Walmart Appoints New CFO


John Rainey has been named Walmart’s new CFO and executive vice president, effective June 6.

Rainey succeeds Brett Biggs, who currently serves as CFO and is stepping down from his role to pursue opportunities in the for-profit and nonprofit sectors. Biggs will remain in the CFO role until June 6 and will aid in the transition. He will serve as an advisor until Jan. 31, 2023. He will also serve as a board member on Walmart’s FinTech startup joint venture with Ribbit Capital.

Rainey comes to Walmart from PayPal, where he currently serves as CFO and executive vice president, global customer operations. Prior to that, he served as CFO and executive vice president at United Airlines and spent a combined 18 years at United and Continental Airlines. He also serves on the Nasdaq board of directors.

Lowe’s Names Brandon Sink as CFO


Home improvement retailer Lowe’s has named Brandon Sink as its new CFO and executive vice president, effective April 30.

Sink currently serves as senior vice president, retail finance at Lowe’s. He will succeed Dave Denton, who is stepping down to pursue another opportunity at a publicly traded company outside the industry. Denton will work with Sink and the leadership team for the transition.

Sink, who first joined Lowe’s in 2010 and has held a variety of roles across the company, has more than 20 years of finance and accounting experience. In his current role, he has been responsible for finance support for stores, merchandising, supply chain, digital and marketing at Lowe’s. Prior to joining Lowe’s, he held roles at Deloitte and Nucor Corporation.

Zappos Has a New CEO has appointed Scott Schaefer as its new CEO. As CEO, Schaefer will oversee the company, which has more than 1,400 employees.

Schaefer has been with Zappos for nearly 14 years and has served as interim CEO since December 2021. Prior to serving as CEO, he was most recently vice president of finance. Before joining Zappos, he held several finance roles with Davenport Wealth Management and Ernst & Young.