Jackson Hewitt Tax Service has ousted chairman and chief executive Michael Lister after more than 125 of the company's franchises faced charges of fraudulent tax return preparation.

Effective immediately, Michael Yerington will succeed Lister as CEO, while Margaret Richardson was elected non-executive chair of the board. Yerington joined the company in 2006. Richardson, who joined the company's board in 2004, was a former commissioner at the Internal Revenue Service.

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