Brett Biggs, Walmart's long-serving Chief Financial Officer, is departing the firm, the retailer announced on Monday.

Biggs will remain in the job until a successor is found, assist with the transfer, and leave the firm on Jan. 31, 2023, according to the company. As part of the transition, he will continue to serve on the board of Walmart's fintech start-up, which is a joint venture with Ribbit Capital.

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Walmart stated that both internal and external candidates will be considered for the position.

Biggs has been with Walmart for 22 years and has been a key figure in the company's leadership. Walmart is the country's largest private employer. After joining Walmart in late 2015, he has been the company's CFO for nearly six years.

Biggs worked his way up the Walmart corporate ladder before becoming CFO. He served as the CFO of Walmart International, Walmart USA, and Sam's Club. In addition, he served as Sam's Club's senior vice president of international strategy, mergers and acquisitions, senior vice president of corporate finance, and senior vice president of operations.

Biggs has helped Walmart become stronger as it has grown its brick-and-mortar and e-commerce businesses — and woven the two together, according to Walmart CEO Doug McMillon.

"Brett's outstanding leadership and high character have played a critical role during one of the company's most pivotal eras," he said.

Biggs stated in the announcement that after more than two decades with the company, he thought it was time to retire.

"Given the company's tremendous positioning and momentum," he stated in the announcement, "now seemed like the right time to transition to the next chapter in my personal and professional life."