- Push-out Score determined
- After about five years in the position
- Praise, thanks and good wishes for Kaufmann
- Jason Hollar taking over
- Kaufmann said 61 words
(exechange) — Dublin, Ohio, August 11, 2022 — Mike Kaufmann, chief executive of Cardinal Health, leaves. As announced by Cardinal Health Inc. in a news release and in a regulatory filing published on Thursday, August 11, 2022, Michael C. (Mike) Kaufmann leaves his post as chief executive officer at the health care services company, after about five years in the role, effective September 1, 2022.
Mike Kaufmann’s duties as CEO will be taken over by Jason M. Hollar, currently Chief Financial Officer at Cardinal Health Inc.
In addition, Patricia English will serve as Cardinal Health’s interim Chief Financial Officer, working with Hollar to ensure a smooth transition.
English currently serves as Chief Accounting Officer and Senior Vice President of Cardinal Health and previously served as Vice President of accounting in both the pharmaceutical and medical segments.
Cardinal Health‘s Board will engage an executive search firm to evaluate candidates for the permanent Chief Financial Officer position.
“Transformational period”
Cardinal Health did not give an explicit reason for Mike Kaufmann’s departure from the CEO post. Hollar said: “This is a transformational period at Cardinal Health and I am humbled to have the opportunity to lead a business that plays such a vital role in the healthcare ecosystem.”
Precise information regarding Mike Kaufmann’s future plans was not immediately available.
“Depart”
Cardinal Health said: “Hollar will succeed current Chief Executive Officer Mike Kaufmann.”
Cardinal Health further said: “Mr. Hollar will succeed current CEO Michael C. Kaufmann, who will depart from the Company on September 1, 2022.”
Share price decline since January 2018
The announcement follows a decline in Cardinal Health Inc.’s share price of 1% since January 2018. January 2018 is the month in which Kaufmann’s tenure as CEO began.
In the position of CEO since 2018
Mike Kaufmann became CEO of the Company in 2018.
Kaufmann has served as Chief Executive Officer of Cardinal Health since January 2018.
From November 2014 to December 2017, he served as the Company’s Chief Financial Officer and from August 2009 to November 2014, he served as the Company’s Chief Executive Officer — Pharmaceutical Segment.
Prior to that, he held a range of other senior leadership roles here spanning operations, sales, and finance, including in both the Company’s Pharmaceutical and Medical segments.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Kaufmann’s move on a scale of 0 to 10.
exechange reached out to Cardinal Health and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 33.2022 ($).