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"NEW YORK (Reuters) - H&R Block Inc (NYSE:HRB - News) replaced Chairman and Chief Executive Mark Ernst on Tuesday following mounting subprime mortgage losses and criticism that the largest U.S. tax preparer had strayed far beyond its roots.

Richard Breeden, 57, a former U.S. Securities and Exchange Commission chairman who won three H&R Block board seats in September after a proxy fight, was named chairman."
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