H&R Block Announces Leadership Transition
16 May 2017 - 10:00PM
H&R Block, Inc. (NYSE:HRB) today announced that president and
chief executive officer Bill Cobb will retire from the company and
the H&R Block Board of Directors effective July 31, 2017.
In his place, the Board of Directors appointed Tom Gerke,
currently the General Counsel and Chief Administrative Officer, to
be the interim president and CEO, beginning August 1,
2017.
“It has been an honor and a privilege to lead this great company
for the past six years. The decision to retire was difficult,
but I leave knowing we created considerable value for
shareholders,” Cobb said. “We focused the company back on its
core tax business, created a culture of doing the right thing, and
just completed a successful 2017 tax season. I wish the
company great success, and I look forward to working closely with
Tom Gerke over the next 10 weeks to ensure a seamless
transition.”
"Bill Cobb came out of retirement to join our Board in 2010 and
less than a year later stepped into the CEO role,” said Robert A.
Gerard, Chairman of the Board. “Bill led the transformation
of H&R Block into a well-run company focused on our
state-of-the-art tax preparation business, with a strong and
committed management team, financial stability and an exciting
future. On behalf of the Board and the entire H&R Block
community, I thank Bill for all he has done and wish him the best
for a well-earned return to retirement.”
“The Board is focused on conducting a thorough search to
identify the leader for H&R Block’s next phase of growth,”
Gerard said. “The company will be in excellent hands under
Tom, who is a strong leader with deep knowledge of the industry and
our company. Tom has prior Fortune 500 public company
experience, having served as the president and CEO of Embarq
Corporation.”
“Having worked closely with Bill over the past six tax seasons
to execute the strategic transition into a more focused tax
company, my priorities will be to sustain our positive momentum and
continue to deliver value for all of our shareholders,” Gerke
said. “I’m excited about the future of H&R Block and am
confident in our ability to continue to produce strong
results.”
The Board is considering both internal and external candidates,
and has retained Crist|Kolder Associates to assist in the search
for a permanent president and CEO.
To view Tom Gerke’s full biography, click here.
About H&R Block H&R Block, Inc.
(NYSE:HRB) is a global consumer tax services provider. Tax return
preparation services are provided by professional tax preparers in
approximately 12,000 company-owned and franchise retail tax offices
worldwide, and through H&R Block tax software products for the
DIY consumer. H&R Block also offers adjacent Tax Plus products
and services. In fiscal 2016, H&R Block had annual revenues of
over $3 billion with 23.2 million tax returns prepared worldwide.
For more information, visit the H&R Block Newsroom.
For Further Information
Investor Relations: Colby Brown, (816) 854-4559, colby.brown@hrblock.com
Media Relations: Susan Waldron, (816) 854-5522, susan.waldron@hrblock.com
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