H&R Block Inc. announced that Brian L. Nygaard, president and chief executive officer of H&R Block Financial Advisors Inc., has decided to leave the company.

Nygaard, who has served as head of Block's financial and investment advisory services subsidiary since November 2001, will leave at the end of January, according to company spokesperson Linda McDougal.

The business unit will report to Jeffery W. Yabuki, H&R Block's executive vice president and chief operating officer, while the company searches for a Nygaard's successor.

"Under Brian's direction, our Financial Advisors unit has made significant strides the past three years, especially given the very challenging market environment," said Mark A. Ernst, H&R Block chairman and CEO. "Brian has moved us closer to integrating our financial services with our tax offerings. He successfully transitioned H&R Block Financial Advisors from its former transaction-based focus to one that is a full-service, relationship-based organization. And in creating the financial advisor-tax professional team concept, we are well positioned to meet the broader financial planning and investment needs of our millions of tax clients."

"I was given a unique opportunity at H&R Block Financial Advisors to reshape an organization to become the leading supplier of financial services to Middle America, and I'm proud of our accomplishments," Nygaard said in a statement.

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