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H&R Block CFO Becky Shulman To Leave In April-end - Update

Tax consulting service provider H&R Block, Inc. (HRB) announced Monday that its Senior Vice President and Chief Financial Officer Becky Shulman will leave the company, effective April 30, 2010. The company has initiated a search for a new chief financial officer, and has retained Crist|Kolder Associates to lead the search.

The Kansas City, Missouri-based company has named Corporate Controller Jeff Brown to assume the role of interim chief financial officer until a replacement is found.

In a statement, president and chief executive officer, Russ Smyth said, "I want to thank Becky for the critical role she has played during a time of significant transition. Our company is in a very strong financial position today, in large part due to Becky's leadership. She will be missed."

Shulman, who joined the company in 2001 as Vice President & Treasurer, has been instrumental in building H&R Block's strong financial position, particularly in the last few years as chief financial officer. She was responsible for the company's Accounting, Corporate Tax, Internal Audit, and Business Planning and Analysis departments and the H&R Block Bank.

Shulman has been serving as H&R Block's chief financial officer since March 2008, after serving as acting chief financial officer since November 2007 in addition to the positions of senior vice president and treasurer of the company.

Prior to joining H&R Block, Shulman was chief investment officer of Overland Park, Kansas-based U.S. Central Credit Union, a $40 billion financial institution,from September 1998 until August 2001. Prior to that, she served as vice president of Asset/Liability for the U.S. Central Credit Union from May 1997 to September 1998.

HRB closed Monday's regular trading session at $18.44, down $0.11 or 0.60% on a volume of 3.51 million shares, lower than the three-month average volume of 4.25 million shares.

by RTTNews Staff Writer

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