Cardinal Health CEO Mike Kaufmann is stepping down and will be replaced by Jason Hollar effective September 1.
The announcement came on the same day that the Dublin, Ohio based company announced fourth quarter earnings that missed the Wall Street expectations, after reporting revenues of $47.1 billion.
Hollar is an experienced financial and operating executive who served as Cardinal Health’s CFO since May 2020. During his tenure he helped the heath company prioritize investments in growth businesses, strengthened the balance sheet, and returned capital to shareholders.
“We are grateful for Mike’s many contributions over his more than 30 years of service and wish him the best in his future endeavors,” said Gregory Kenny, Cardinal Health’s Independent Chairman of the Board. “We look forward to leveraging Jason’s broad executive experience and are confident in his ability to lead Cardinal Health on a path to long-term growth.”
Hollar will also join the Board of Directors effective August 11. Patricia English will serve as Cardinal Health’s interim CFO.
“The Board and I are confident that Jason is the right person to lead Cardinal Health in the years to come,” said Kaufmann in a farewell note.