Dive Brief:
- Finance software company Bill Holdings tapped PayPal veteran Rohini Jain to become its CFO, according to a Monday announcement.
- The incoming finance chief will join Bill’s executive team on July 7, replacing John Rettig, who will stay on as president while also taking on the new role of chief operating officer, the company said.
- “As an exceptional global finance leader with a strong track record of scaling growth companies, combined with a passion for serving SMBs [small and mid-sized businesses], Rohini is well positioned to drive the next phase of Bill’s growth,” Bill CEO René Lacerte said in a press release.
Dive Insight:
The move comes amid a management team shakeup at PayPal under CEO Alex Chriss. Soon after taking over the online payment company in September 2023, Chriss appointed Jamie Miller as CFO, among other leadership changes. Earlier this year, Miller took on the additional role of chief operating officer.
Jain, 46, is leaving PayPal after nearly a decade, most recently serving as the CFO of enterprise business and merchant platforms. Prior to PayPal, she held finance leadership roles at Walmart and eBay.
Her compensation package at Bill will include an annual base salary of $450,000 and a signing bonus of $250,000, according to a securities filing. She will also receive an initial award of restricted stock units “representing the opportunity to receive an aggregate of $8 million in shares of the Company’s common stock,” according to the filing.
Bill provides bill-pay and other accounting software services to small and mid-sized businesses. The company generated total revenues of $358.2 million in its fiscal 2025 third quarter ended March 31, an increase of 11% compared with the year-earlier period, according to results released last month.
But uncertainty in the macroeconomic environment is clouding the fourth quarter outlook, Rettig said during an earnings call at the time.
“We have shifted our estimates and our expectation for this fourth quarter to be similar to the third quarter,” he said. “And this is primarily related to some of the signals that we started to see in Q3 regarding some changing behaviors related to spend across discretionary categories.”
