Cardinal Health, Inc.
Leadership History
5 leaders · 1971 to present
Jason M. Hollar is the CEO of Cardinal Health, in the role since 2022. The first chief executive was Robert D. Walter, from 1971.
| Name | Role | From | To | Years in role |
|---|---|---|---|---|
| Jason M. Hollar | CEO | 2022 | Present | 4 |
| Mike Kaufmann | CEO | 2018 | 2022 | 4 |
| George Barrett | Chairman and CEO | 2009 | 2017 | 8 |
| Kerry Clark | Chairman and CEO | 2006 | 2009 | 3 |
| Robert D. Walter | Founder, Chairman, and CEO | 1971 | 2006 | 35 |
Cardinal Health, based in Ohio, is one of the three large US pharmaceutical distributors, along with McKesson and Cencora. It does not invent drugs or treat patients. It runs the regulated supply chain that moves medicines and medical devices from manufacturers to pharmacies and hospitals, so a prescription collected at a local pharmacy has often passed through its network. The company is headquartered in Dublin, Ohio.
The business model is large, high-volume logistics divided into two segments: Pharmaceutical and Medical. In the Pharma segment, they buy billions of dollars of drugs from manufacturers (like Pfizer) and distribute them daily to tens of thousands of pharmacies and hospitals, taking a tiny markup. In the Medical segment, they actually manufacture and distribute low-cost, high-volume medical supplies (like surgical gloves, gowns, and syringes), acting as the large central supply closet for the entire American hospital system.
CEO
2022 – Present
4 years (current)
Hollar joined Cardinal Health as CFO in 2020 and became CEO in September 2022. He has led the company through the OptumRx contract exit, the GMPD improvement plan, and acquisitions including GI Alliance, ADSG, and Solaris Health. Fiscal 2026 revenue reached $254.2 billion with non-GAAP EPS of $11.26.
CEO
2018 – 2022
4 years
Kaufmann led Cardinal Health through the opioid litigation settlement and the COVID-19 pandemic, which created demand for medical supplies and pharmaceuticals. He focused on operational execution and maintaining supply chain continuity during the crisis.
Chairman and CEO
2009 – 2017
8 years
Barrett led Cardinal Health through significant strategic initiatives including the acquisition of the Patient Recovery business from Medtronic ($6.1 billion) and the establishment of the Red Oak Sourcing joint venture with CVS Health. He navigated the company through the Walgreens contract loss and early opioid litigation.
Chairman and CEO
2006 – 2009
3 years
Clark led Cardinal Health through a period of strategic repositioning, including the spin-off of the CareFusion medical technology business. He focused on improving operational efficiency and addressing the challenges of the post-Walter era.
Founder, Chairman, and CEO
1971 – 2006
35 years
Walter founded Cardinal Health in 1971 as a food wholesaler and pivoted to pharmaceutical distribution in 1979. He executed dozens of acquisitions that transformed the company from a small regional distributor into a $50+ billion healthcare conglomerate. His decentralized management philosophy and acquisition discipline shaped Cardinal Health's corporate culture. He led the company as CEO until 2006.
Cardinal Health's main challenges are customer concentration, thin margins, and execution on acquisitions. The OptumRx contracts that expired in June 2024 were worth about $38.1 billion of fiscal 2024 revenue, a reminder that a single contract can swing results; CVS Health remains a major customer and Red Oak Sourcing partner. Generic drug price deflation, branded drug pricing policy (including Medicare drug price negotiation), and PBM reform can all squeeze distributor economics. GMPD has needed a multi-year improvement plan after inflation, supply chain, and tariff pressure; fiscal 2026 segment profit of $258 million included a one-time $100 million IEEPA tariff refund benefit. The company must also integrate GI Alliance, Solaris Health, and other practice platforms, where physician retention and reimbursement rules matter. Opioid settlement payments continue for years under the 2022 national agreement.
Jason M. Hollar became Chief Executive Officer of Cardinal Health on September 1, 2022, after previously serving as the company's Chief Financial Officer since May 2020.
Before joining Cardinal Health, Jason Hollar served as Chief Financial Officer of automotive components giant Tenneco and previously held senior finance leadership roles at Sears Holding Corporation, Delphi Automotive, and Navistar International.
Mike Kaufmann served as CEO of Cardinal Health from 2018 to 2022 during a 32-year career at the company. Kaufmann led Cardinal Health through complex opioid litigation settlements, formed Red Oak Sourcing, and navigated global medical supply chain disruptions during COVID-19.
Robert D. Walter founded Cardinal Health in 1971 as a small regional food wholesaler and served as CEO until 2006. Walter orchestrated the pivot into pharmaceutical distribution in 1979 and executed over 30 major acquisitions to create a Fortune 20 leader.
Jason Hollar has prioritized the operational turnaround of the Global Medical Products and Distribution (GMPD) segment, aggressive capital allocation toward high-margin specialty physician platforms, and disciplined shareholder value creation through share buybacks.
George S. Barrett served as Chairman and CEO of Cardinal Health from 2009 to 2017. Barrett oversaw the acquisition of Medtronic's Patient Care business for $6.1 billion, established the Red Oak Sourcing partnership with CVS, and expanded Cardinal Health's specialty medical footprint.
Under the leadership of Mike Kaufmann and the board of directors, Cardinal Health finalized a comprehensive $6.4 billion nationwide settlement with state attorneys general in 2021, establishing strict new anti-diversion monitoring systems and resolving decades of legal uncertainty.
Jason Hollar's capital allocation strategy focuses on maintaining an investment-grade balance sheet, funding organic supply chain automation, sustaining annual dividend growth, and deploying excess free cash flow into accretive specialty acquisitions and share repurchases.
Jason Hollar currently serves as CEO, taking over in 2022 to aggressively execute a massive turnaround strategy after the company suffered several quarters of extreme margin pressure and supply chain chaos.
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