THE WHAT? Walmart EVP and CFO Brett Biggs is to step down from his positions, and will begin transitioning from the company in the upcoming year. THE DETAILS According to Walmart, Biggs will remain in his position until a replacement has been named in 2022, and will remain in a supportive role with the company until his departure on 31 January, 2023. Both internal and external candidates are being considered for the role, with Biggs continuing to represent the company as a board member on Walmart’s FinTech startup joint venture with Ribbit Capital. THE WHY? Having spent 22 years with Walmart, Biggs is said to be beginning a new chapter of opportunities in both the for-profit and non-profit sectors. Walmart President and Chief Executive Officer Doug McMillon said, “Brett’s high character and strong leadership have played a central role during one of the most significant periods in the company’s history. Readers like you keep news free for everyone. More than 5,000 readers have already pitched in to keep free access to The Journal. For the price of one cup of coffee each week you can help keep paywalls away.
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TheJournal.ie supports the work of the Press Council of Ireland and the Office of the Press Ombudsman, and our staff operate within the Code of Practice. You can obtain a copy of the Code, or contact the Council, at www.presscouncil.ie, PH: (01) 6489130, Lo-Call 1890 208 080 or email: Please note that TheJournal.ie uses cookies to improve your experience and to provide services and advertising. For more information on cookies please refer to our cookies policy. News images provided by Press Association and Photocall Ireland unless otherwise stated. Irish sport images provided by Inpho Photography unless otherwise stated. Wire service provided by Associated Press. Journal Media does not control and is not responsible for user created content, posts, comments, submissions or preferences. Users are reminded that they are fully responsible for their own created content and their own posts, comments and submissions and fully and effectively warrant and indemnify Journal Media in relation to such content and their ability to make such content, posts, comments and submissions available. Journal Media does not control and is not responsible for the content of external websites. Following the opening statements of Ghislaine Maxwell’s sex abuse trial on Nov. 29, thousands of users have shared a list of companies in which people in high-level positions have purportedly stepped down, claiming the resignations are somehow linked to her trial. The posts are unfounded and inaccurate. “On the 1st day of Maxwell’s trial... The CEO of twitter resigned the CFO of CNBC resigned the CFO of Walmart resigned the CFO of Goldman Sachs resigned Chris Cuomo was fired from CNN,” according to Twitter posts that had garnered at least 26,200 retweets at the time of publication. ( here , here , here , here ). The posts have also been published on Facebook ( here , here , here , here ) and Instagram ( here ). “The Domino’s (sic) are starting to fall!, ”one Twitter user commented. “She’s doing a better job of cleaning house than an election!! Next up, the politicians!!!,” another wrote. See the latest Reuters coverage of Maxwell’s trial here. There is no evidence the Maxwell trial was connected to Jack Dorsey stepping down from his role as Chief Executive Officer of Twitter. The company announced on Nov. 29 that Chief Technology Officer Parag Agrawal would lead the company, effective immediately. Dorsey will remain on the board until his term expires at the 2022 annual shareholder meeting, the company said ( here ). Dorsey remains CEO of his payments processing company Square Inc. Twitter did not immediately respond to Reuters’ request for comment WALMARTClaims that Doug McMillon, Walmart Inc CEO, has resigned are false ( here ). “There’s no truth to that,” Randy Hargrove, Senior Director of National Media Relations at the company, told Reuters via phone. Hargrove also said: “there is no connection whatsoever” between Maxwell’s trial and the announcement that Walmart veteran Brett Bings will step down as CFO in 2022. The move was reported by Reuters on Nov. 29 ( here ). CNBCResponding to claims about changes in CNBC’s leadership, a CNBC spokesperson told Reuters they were “categorically untrue.” Some posts mistakenly refer to the “CNBC CEO” stepping down. Brian L. Roberts is Chairman and CEO of Comcast Corporation, parent company of NBCUniversal, which owns CNBC ( here , here ). Jeff Shell is Chief Executive Officer of NBCUniversal ( here ). Mark Hoffman is chairman of CNBC ( here ). None have stepped down as of the writing of this article, nor have Anand Kini, CFO of NBCUniversal or Michael J. Cavanagh, CFO of the Comcast Corporation. GOLDMAN SACHSGoldman Sachs CFO Stephen Scherr will step down at year-end, but contrary to social media allegations, the announcement was made on Sept. 14, as reported by Reuters ( here ). Denis Coleman, co-head of the global financing group in Goldman's investment banking division, will take over the role effective Jan. 1, 2022 ( here ). Goldman Sachs declined to comment. CNNSome iterations ( here ) also mention news anchor Chris Cuomo, who was suspended by CNN for his role in defending his brother, former New York Governor Andrew Cuomo, over sexual harassment allegations, as reported by Reuters on Dec. 1 ( here ). “That’s an absolutely absurd suggestion. Ghislaine Maxwell is no way connected to CNN’s suspension of Chris Cuomo,” Matt Dornic, head of strategic communications at CNN told Reuters via email. The cable news channel said in a statement Cuomo’s suspension followed the release of new court documents on Monday. VERDICTMisleading. There’s no evidence that announcements of people in high-level positions stepping down from major companies are related to Ghislaine Maxwell’s trial. This article was produced by the Reuters Fact Check team. Read more about our work to fact-check social media posts here. Our Standards: The Thomson Reuters Trust Principles. Published Mon, Nov 29 2021 8:42 AM ESTUpdated Mon, Nov 29 2021 11:52 AM EST
 Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Walmart's longtime chief financial officer, Brett Biggs, is leaving the company, the retailer announced Monday. In a news release, the company said Biggs will remain in the role until a successor is named, help with the transition and depart the company on Jan. 31, 2023. He will also remain a board member of Walmart's fintech start-up, which is a joint venture with Ribbit Capital, through the transition. Walmart said it will consider internal and external candidates for the role. Biggs, 53, has worked for the company for 22 years and has served as a prominent leader for Walmart, which is the country's largest private employer. He has been Walmart's CFO for nearly six years, after beginning in late 2015. Prior to serving as Walmart's CFO, Biggs moved up the ladder at the big-box retailer. He was chief financial officer for Walmart International, Walmart U.S. and Sam's Club. He also was senior vice president of international strategy, mergers and acquisitions; senior vice president of corporate finance, and senior vice president of operations for Sam's Club. Walmart CEO Doug McMillon said in a news release that Biggs has helped the company become stronger as it grew its brick-and-mortar and e-commerce business — and weaved the two together. "Brett's high character and strong leadership have played a central role during one of the most significant periods in the company's history," he said. In the release, Biggs said the time felt right to step down, after his more than two decades with the retailer. "Given the tremendous positioning and momentum of the company, now felt like the right time to transition to the next chapter in my personal and professional life," he said in the release. Watch our live stream for all you need to know to invest smarter. |
Why did ceo of walmart resign
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