John T. Hewitt, the former CEO of Liberty Tax who still owns all of the controlling shares in the company, removed two board members on Monday and replaced them with franchisees and former company executives.
An additional board member announced his immediate retirement.
Hewitt, whose ownership shares allow him to pick a majority of the company’s nine board of directors, was fired by the board in early September from his chief executive role.
Hewitt removed Thomas Herskovits and Robert M. Howard, both directors since late 2015. Herskovits is an investment banker and former CEO of Specialty Foods and president of Kraft Dairy Foods, according to a filing made with the Securities and Exchange Commission. Howard is the chief investment officer of Virginia Beach-based Gold Key | PHR.
