H&R; Block CEO to Become Chairman

H&R; Block Inc., the world’s biggest tax preparation company, named Chief Executive Frank L. Salizzoni chairman to replace Henry W. Bloch, 77, who will retire in the fall. Bloch, who founded the Kansas City company in 1955 with his brother Richard, will stay with the company as honorary chairman. Salizzoni will become chairman Sept. 13 and will retire as chief executive Dec. 31, to be replaced by Mark A. Ernst, the current president and chief operating officer. After Bloch retires, the company will be without a family member at its helm for the first time. The company also said its earnings for the fiscal year ended April rose a less-than-expected 6% to $251.9 million, or $2.55 a share, as revenue grew 49% to $2.5 billion with help from acquisitions.H&R; Block shares rose 31 cents to close at $30 on the NYSE.