Breeden Capital seeks to put three on H&R Block board of directors in September

By Lisa Kerner

Charlotte, N.C., June 27 - H&R Block Inc. investor Breeden Capital Management LLC said Breeden Partners LP will nominate three candidates for election to the company's board of directors at its Sept. 6 annual meeting. With three of the company's 11 incumbent directors up for re-election, Breeden wants to bring "fresh perspective and new energy" to the board.

Breeden Capital chairman and chief executive officer Richard C. Breeden is one nominee. He is also a former chairman of the Securities and Exchange Commission. The names of two additional nominees will be announced later in the week.

Breeden Partners and its affiliates own 6 million shares, or 1.86 %, of H&R Block.

"While H&R Block is widely known for its market-leading tax preparation services, its efforts to diversify into activities including subprime mortgage lending, securities brokerage and banking have resulted in substantial lost shareholder value," Breeden said in a company news release, citing the stock's underperformance for the past five years.

H&R Block is a provider of tax, financial, accounting and business consulting services and products based in Kansas City, Mo.

Breeden Capital Management is a Greenwich, Conn.-based investment fund manager.

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