PayPal on Tuesday said that John D. Rainey has been appointed chief financial officer, effective August 24. Rainey previously served as United Airlines’ CFO.
“I couldn’t be more thrilled to welcome John to PayPal where he will undoubtedly make an immediate impact as we begin operating as an independent and publicly traded company,” PayPal president and chief executive Dan Schulman said in a press release.
“I can’t imagine a more exciting time to join PayPal,” Rainey said. “PayPal is leading the transformation of money and the digitization of payments. Dan and his executive team recognize and appreciate that they’re making history, and I’m delighted to be a part of it.”
Rainey will lead PayPal’s financial operations, regional finance teams, and investor relations, reporting directly to Schulman. He will succeed Patrick Dupuis, who has served as PayPal’s finance chief for five years.
Dupuis will remain at PayPal and will continue to report directly to Schulman in the newly created role of senior vice president of “simplicity, quality and productivity.”
“In his new role, Patrick will help us tackle the many opportunities to improve our efficiency and performance,” Schulman said.
Prior to serving as CFO at United Airlines, Rainey held various positions of increasing responsibility in finance at United Airlines and Continental Airlines. Before joining Continental, Rainey worked at Ernst & Young.