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Intuit Names New Leader for Consumer Tax Unit
MOUNTAIN VIEW, Calif. – June 14, 2007 – Intuit Inc. (Nasdaq: INTU) today named Kiran Patel as general manager and senior vice president for the company's industry-leading consumer tax business and its flagship product, TurboTax®. Patel, 59, has been Intuit's chief financial officer since 2005 and will retain that position during a search for his successor.
Patel succeeds Brad Henske, 46, who has accepted a position with the private equity firm Hellman & Friedman. Henske joined Intuit in 2003 as chief financial officer and headed the consumer tax group since 2005.
"Our consumer tax business has never been stronger," said Steve Bennett, Intuit president and chief executive officer. "Under Brad's leadership, we completed a record tax season and are well positioned for the future. Kiran is a proven leader, with outstanding financial, operating and general management experience. With the perspective he's gained as chief financial officer, he'll be a strong leader for consumer tax."
Patel will continue to report to Bennett. The search for a new chief financial officer is underway.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants. The company's financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $2.3 billion in its fiscal year 2006. The company has more than 8,100 employees with major offices in the United States, Canada, the United Kingdom and other locations. More information can be found at www.intuit.com.