News

MINNEAPOLIS - Ceridian, a payroll and human resources service provided has hired Stuart C. Harvey Jr. as its CEO, effective August 16. Harvey replaces Kathryn V. Marinello, the former chairman and CEO who resigned in January.

When H&R Block published the amounts of compensation for its leaders this month, it looked more like an alumni club directory than a list of top executives as four out of the six persons named no longer work for the tax services chain. The SEC filing also shows that Russ Smyth lost millions of dollars in pay because of his abrupt resignation from the company last month with his fiscal 2010 compensation dropping by nearly $1.8 million.

Morningstar saw a 12.2-percent drop in net income on 13.9-percent rise in revenue. But for employees and the company the earnings change reflected some good news. That included higher sales commissions as sales improved and the company began restoring suspended employees benefits, including partially reinstating matches to employee contributions to the 401(k) plan in the United States. And margins declined largely because of a decision to increase employee bonuses.

Although Thomson Reuters reported an 8-percent drop in operating earnings and a 2-percent decline in revenue for the second quarter ended June 30, its Tax and Accounting business showed an 8-percent increase in revenue. The latter's performance came as its Workflow & Software Solutions area recorded a 12-percent increase because of the growth of income tax and the global tax business.