Two-time Baylor alum named Walmart’s new CFO

Before the pandemic, online shopping was a convenience. During the pandemic, it became a necessity, challenging even the largest of retailers to rethink their web presence.

It’s no surprise that during such a transformational time a Baylor grad would be called upon to lead. In April, Walmart named John D. Rainey (BBA ’93, MBA ’95) as the company’s new executive vice president and chief financial officer (CFO); he moved into the position earlier this month.

Rainey joined Walmart after seven years as CFO of PayPal, where he oversaw all of the company’s financial operations as well as its global customer service operation. “I’m excited and humbled to join such an iconic company at a time when the retail industry continues its transformation,” he said as the news of his new position broke.

Prior to PayPal, Rainey had spent 13 years as vice president at Continental Airlines and five years at United Airlines, the last three as CFO. Beyond his day job, Rainey currently serves on the board of directors for NASDAQ and on the advisory board for Baylor’s Hankamer School of Business.

In every position, Rainey it says, it’s really all about people and values — something he learned at Baylor.

“As a senior, I had these ideas about what it would take to be successful, and when I reflect on my career, I recognize that there are a number of people who could be in my job,” he told Baylor Magazine in 2017. “What I think that I’ve done differently is really focus on how to do my job and how to do it right. Coming from Baylor, that’s one thing our students have as an advantage. Baylor emphasizes that. … I want our students to know that how you do it is as important as what you do. Having character and humility, authenticity and being genuine — the softer skills matter.”

Sic ’em, John Rainey!