PayPal Holdings, Inc. on Tuesday announced that John D. Rainey is joining the digital payments leader as its new Chief Financial Officer (CFO), effective August 24, 2015. Rainey joins PayPal from United Continental Holdings, Inc. where he was Executive Vice President and CFO at United Airlines.

"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. [PayPal is] 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 and report directly to Schulman. He will succeed Patrick Dupuis, who has served as PayPal’s CFO for five years. Dupuis will remain at PayPal in the newly created role of Senior Vice President, Simplicity, Quality and Productivity.

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Rainey has more than 20 years of financial management experience. Prior to being CFO at United Airlines, he held various positions of increasing responsibility in finance at United Airlines and Continental Airlines. Before joining Continental, Rainey worked at Ernst & Young LLP in Houston.