Investor Breeden steps down as H&R Block chairman

AP News
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Posted: Mar 17, 2011 7:16 PM

Richard C. Breeden, chairman of H&R Block Inc. since 2007, is stepping down from that role and leaving the board after the tax season ends on April 18, the company says.

The Kansas City, Mo.-based company is not naming a candidate to take his place. A spokeswoman says the board will elect a new chairman in the coming weeks.

Breeden is an activist investor and chairman of Breeden Capital Management, a Greenwich, Conn.-based investment fund that holds about 4 percent of the stock in the nation's largest tax preparer. He took over leadership of the board after ousting former Chairman and CEO Mark Ernst.

Breeden has led the company through shuttering and selling its mortgage and brokerage businesses and helped shore up finances during the economic crisis.