Cardinal Health announced that it has named Mike Kaufmann, 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, 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. Additionally, as part of the succession plan, Jorge Gomez, will succeed Mike Kaufmann as Cardinal Health's chief financial officer.

Gomez currently serves as senior vice president and chief financial officer of Cardinal Health's Medical segment and previously served as chief financial officer of Cardinal Health's Pharmaceutical segment, as well as in roles as both the company's treasurer and controller. Prior to joining Cardinal Health 12 years ago, Gomez spent close to 10 years with General Motors, where he served in a variety of financial roles.