HR Block 2008 Annual Report Download - page 17

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15
H&R Block eliminated its staggered board at the end
of 2007, and as a result this year and for the future
every member of the board will stand for election
for a one-year term. Shortly after the de-staggering
occurred, the Board also allowed the Company’s
“shareholder rights plan,” or poison pill, to expire.
We also put in place a term limit for directors of
twelve years in offi ce. No matter how good a director
may have been, we believe that fresh perspectives
are also vital for any company. By limiting the
length of board service, we can maintain continuity
on the board while also guarding against the risk
that members may stay beyond the period when
they bring the most new ideas and energy to their
board service.
A Word of Thanks to All the People Who Made These
Events Possible. Hopefully it is clear by now that
H&R Block has many strengths as a company. We
have a proud tradition, a great brand, strong values
and a vibrant business. However, without question
our greatest strength is our people. I have mentioned
our superb ranks of tax professionals, who study and
train on all the complexities of our tax code so that
they can deliver advice to their clients. They are a
unique asset, and I want to thank all of them for the
work that they do year in and year out.
Beyond our tax professionals, associates across the
Company have worked extraordinarily hard this year
as we changed direction and tried to increase the
intensity of our game in many areas. Senior managers
and members of the Board have also worked ex-
traordinarily hard this year to adjust to the changes
we needed to make quickly. Running a large fi eld
organization like H&R Block requires a talented
support staff including fi eld management, IT, mar-
keting, fi nance, treasury, accounting, legal, human
resources, communications and other functions. Be-
cause of our cost reduction program, literally every-
one within the Company had to fi nd ways to do more
this year with less. I have seen the effort that goes on
all year to create the results that are refl ected in our
numbers, and it can often be intense. On behalf of the
Company, I want to express our pride in our people,
as well as our thanks for all the work throughout the
year. More than anything else, our people make me
optimistic about our ability to build value in the fu-
ture and succeed in the marketplace.
Very sincerely yours,
RICHARD C. BREEDEN
Chairman of the Board, H&R Block, Inc.
Without question, our greatest
strength is our people.