Walmart Inc. announced that Executive Vice President and Chief Financial Officer Brett Biggs will begin transitioning from Walmart during this upcoming year.

Biggs will remain in the CFO role until a successor is named next year and then support that transition, remaining as an associate until he leaves the company after 22 years.

Biggs has served as Walmart's Executive Vice President and CFO since Dec. 31, 2015.

As part of the transition, he will also continue representing the company as a board member on Walmart's FinTech startup joint venture with Ribbit Capital.

The company with consider internal and external candidates before naming a successor.

“Brett’s high character and strong leadership have played a central role during one of the most significant periods in the company’s history,” Doug McMillon, Walmart's President and Chief Executive Officer said.

“His contributions have been a key to the important steps we’ve taken to transform the company on our omni journey. Brett has elevated the finance organization and strengthened the team through his commitment to excellence and talent development."

"We are fortunate to have benefited from his talents, and we appreciate everything he’s done for the company during his career," McMillon said.

“My time at Walmart these past 22 years has been incredible,” Biggs said. “It has been a privilege to work alongside Doug, our leadership team and the many talented individuals throughout the company and finance organization."

Biggs joined Walmart in 2000 and in his role as CFO is responsible for accounting and controls, corporate strategy and development, business planning and analysis, global procurement, internal audit, treasury, tax and investor relations.

Previously, he held the roles of chief financial officer for Walmart International, Walmart U.S. and Sam’s Club.

He has also served as senior vice president of international strategy, mergers and acquisitions, and as senior vice president of corporate finance. Biggs was also the senior vice president of operations for Sam’s Club.

Prior to joining Walmart in 2000, Biggs held various M&A and corporate finance positions with Leggett & Platt, Phillips Petroleum Co. and Price Waterhouse.