Nov. 20 (Bloomberg) -- H&R Block Inc.'s Mark Ernst resigned as chairman, president and chief executive officer after a yearlong effort to sell its money-losing subprime home lending unit neared collapse.

Richard Breeden, the hedge fund manager and former chairman of the U.S. Securities and Exchange Commission, was named chairman of the board, H&R Block said today in a statement. Alan M. Bennett has been named interim CEO.

Last Updated: November 20, 2007 08:39 EST