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Cardinal Health Names Michael Kaufmann As CFO, Succeeding Henderson(dpa-AFX International Compact Via Acquire Media NewsEdge) WASHINGTON (dpa-AFX) - Healthcare services company Cardinal Health Inc. (CAH) said Thursday that it has appointed Michael Kaufmann, as chief financial officer of the company, effective November 11, 2014. He will succeed current CFO Jeffrey Henderson, who has previously announced his planned retirement. Cardinal Health also appointed Jon Giacomin as chief executive officer of the Pharmaceutical segment, succeeding Kaufmann. Giacomin's appointment is also effective November 11, 2014. In June, Cardinal Health said that Henderson, aged 49, will retire as CFO after fiscal year 2015 and noted that he will be completing his tenth year in the position. At that time, the company said it will consider both internal and external candidates to succeed Henderson as CFO. Commenting on Kaufmann's appointment, George Barrett, chairman and chief executive officer of Cardinal Health said, "Over the past 24 years, Mike has demonstrated a track record of high performance across many roles for Cardinal Health. His unique blend of financial acumen and extensive operational experience make him ideally suited to take the position of CFO." Kaufmann, aged 51, has served as CEO of Cardinal Health's Pharmaceutical segment since 2009. He joined Cardinal Health in 1990 and has held several senior operational, sales and finance positions. These positions include group president of the medical business of the former Healthcare Supply Chain segment, after he served as the segment's CFO. Prior to joining Cardinal Health, Kaufmann had a career in audit and consulting with Arthur Andersen, formerly one of the largest public accounting firms in the U.S. Giacomin, aged 49, is a 12-year veteran of Cardinal Health and currently serves as president of U.S. Pharmaceutical Distribution. Prior to this, Giacomin served as executive vice president of Pharmaceutical Operations and was responsible for warehouse operations at 22 distribution centers as well as pharmaceutical packaging operations. Giacomin joined Cardinal Health in the Pharmaceutical packaging business. He served as its vice president and general manager before moving to the position of senior vice president of inventory management for the former Healthcare Supply Chain Services segment. Prior to joining Cardinal Health, Giacomin held engineering and operating roles for Griffith Micro Science and Sterigenics. He has also served as a lieutenant in the U.S. nuclear Navy, where he held an engineering role. In early August, Cardinal Health reported a turnaround to profit in the fourth quarter. The company's net earnings totaled $234 million or $0.68 per share, compared to loss of $586 million or $1.72 per share in the same period last year. Revenue for the quarter declined 10 percent to $22.894 billion from $25.420 billion in the prior year, but rose 12 percent excluding the impact of the Walgreens contract expiration. CAH closed Wednesday's trading at $75.48, up $0.19 or 0.25 percent on a volume of 1.33 million shares. Copyright RTT News/dpa-AFX |