Cardinal Health CFO will replace CEO Mike Kaufmann

Name: Jason Hollar

New title: Chief govt officer

Current title: Chief monetary officer

Cardinal Health’s board of administrators has chosen chief monetary officer Jason Hollar to be the healthcare distributor’s new CEO, the corporate mentioned Thursday. 

Hollar will start serving as the corporate’s high govt on Sept. 1. Current CEO Mike Kaufmann, who has led Cardinal Health for the previous 5 years and has labored throughout the firm for greater than three a long time, will step down. 

Hollar joined Cardinal as CFO in 2020 and in that point he “has helped Cardinal Health prioritize investments in growth businesses, strengthened the balance sheet, and returned capital to shareholders,” the corporate mentioned in a press release. 

Prior to Cardinal, Hollar served within the CFO function at automotive parts firm, Tenneco, and retail firm Sears Holdings Corporation.

Patricia English will grow to be Cardinal’s interim CFO.

Earlier this yr, Cardinal Health and different healthcare corporations reached a $26 billion settlement to settle lawsuits alleging that their practices helped gas the opioid disaster.