DUBLIN, Ohio, Nov. 6, 2017 /PRNewswire/ -- Cardinal Health (NYSE: CAH) announced today that it has named Mike Kaufmann, 54, its current chief financial officer, to serve as the company's next chief executive officer and join the board of directors, effective Jan. 1, 2018. Kaufmann will succeed George Barrett, 62, Cardinal Health's chairman and chief executive officer since 2009, who will continue to serve as executive chairman of the board of directors through the annual meeting of shareholders in November 2018. At that time, Gregory Kenny, Cardinal Health's lead independent director, will assume the role of non-executive chairman.

Kaufmann is a 27-year veteran of Cardinal Health with responsibility for all of the company's financial activities in addition to overseeing Global Sourcing for both the Pharmaceutical and Medical segments. As a member of Cardinal Health's senior executive team, Kaufmann has played an important role in developing and executing the company's strategy. He has also been instrumental in key strategic initiatives, including the company's joint venture with CVS Health, Red Oak Sourcing, where he serves on the board of directors, and the creation of Fuse, Cardinal Health's technology innovation center. He previously held senior commercial and operational leadership positions across the Pharmaceutical and Medical businesses.

Lead Director Kenny said, "A critical responsibility of our board of directors is thoughtful succession planning. We have worked closely with George throughout his tenure on this important process and, under his stewardship, Cardinal Health has developed a strong leadership bench. In appointing Mike as our next CEO, the board has chosen a proven executive with demonstrated leadership skills and deep operational experience. Mike has broad knowledge across key areas of Cardinal Health's operations and excellent relationships with our customers, our business partners, and the financial community. We are confident that he has the talents and abilities to lead Cardinal Health through our next stage of growth, and we expect a very smooth transition of leadership."

Kenny continued, "In determining the board's governance structure announced today, we have taken into account a wide range of factors, including the current practices of other organizations, as well as the views of our shareholders. The board will continue to evaluate this structure on a regular basis in service to its shareholders and other key stakeholders."

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