H&R Block's former CEO gets $5.2 million in '07

Associated Press - July 3, 2008 7:24 PM ET KANSAS CITY, Mo. (AP) - The former chief executive of H&R Block lost his job during the company's previous year but got a big payday out of it. The Kansas City-based company says in a securities filing that Mark Ernst was paid compensation valued at $5.2 million during the previous fiscal year. That's 70% above what he received last year. Most of the increase is from a 2.6 million severance payment he received after resigning in November. Ernst was ousted by board members critical of the company's move into mortgage lending and other businesses that lost money and took the focus off its tax preparation business. Alan Bennett was named as interim CEO. The company says he received $1.4 million in compensation... [read full story]