UPDATE 2-H&R Block's Smyth resigns, Bennett takes helm

* Smyth resigns as CEO, director and president

* Board member Alan Bennett named new CEO

* Co says Smyth to become CEO of private firm

* Second major resignation in as many weeks (Adds that Bennett named new CEO, Smyth's job plans

NEW YORK, July 7 (Reuters) - H&R Block Inc (HRB.N), the No. 1 U.S. tax preparer, on Wednesday said Chief Executive Russell Smyth had resigned and that board member Alan Bennett was named his successor, effective immediately.

"Mr. Bennett fills the position vacated by Russ Smyth, who resigned in order to accept the position of CEO of a large private company headquartered in his hometown of Chicago," H&R Block said in a release.

Bennett served as H&R Block's interim CEO from November 2007 until August 2008, and has served on its board since 2008, the company said.

Last week, H&R Block's general counsel Brian Woram also left the company.

H&R Block posted a better-than-expected quarterly profit last month, partly helped by lower operating expenses, but declined to provide an outlook. [ID:nSGE65N0IV]

The Kansas City, Missouri-based company in May closed about 400 underperforming tax offices and cut 400 jobs, following a disappointing tax season. The company has said it expects to cut operating expenses by $140 million to $150 million per year by the end of fiscal year 2012.

H&R Block provides tax return preparation services in person, and online through its H&R Block at Home software, formerly known as TaxCut, which competes with bigger tax software rival Intuit's (INTU.O) TurboTax.

H&R Block shares closed at $15.49 Wednesday on the New York Stock Exchange. (Reporting by Ransdell Pierson in New York and Anurag Kotoky in Bangalore; Editing by Jarshad Kakkrakandy, Bernard Orr)