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Intuit Names Current Chairman Bill Campbell Acting Chief Executive; Bill Harris Resigns as CEO; Remains on Board.



MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Sept. 23, 1999--

Intuit in·tu·it  
tr.v. in·tu·it·ed, in·tu·it·ing, in·tu·its Usage Problem
To know intuitively.



[Back-formation from intuition.
, Inc. (Nasdaq:INTU INTU Intuit, Inc. (stock abbreviation, AMEX) ) announced today that its board of directors has named current Chairman and former Chief Executive Officer Bill Campbell as its acting chief executive.

Campbell will assume day-to-day operations of the company pending selection of a new CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  to replace Bill Harris Bill Harris can refer to several people.

In arts:
  • Bill Harris (born 1967), American painter
  • Bill Harris (1916-1973), American jazz trombonist
  • Bill Harris, former Director General of SFI and current Head of Science Foundation, Arizona
, who has resigned. Harris will remain on the board of directors, and will work with Campbell and the board to search for a new CEO.

"Bill Harris has been the chief architect of Intuit's Internet strategy, transforming the company from a leader in desktop software to a leader in electronic finance," said Campbell. "As a result, Intuit's business has never been stronger -- with revenues up 43% and profits doubling in our most recent fiscal year. Our business is strong, our strategy is in place and our management team is executing well.

"Bill Harris is a close friend and a brilliant strategist," said Campbell. "His leadership will be missed."

"I took on the role of Intuit's CEO to help lead Intuit's transition from PC software to Internet services," said Harris. "The framework for this shift is now in place and the company is delivering on it -- 20% of our last six month's revenues came from the Internet. It's time It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a  for Intuit to move to the next level and it's time for someone else to lead the company.

"I have enjoyed being a catalyst for change at Intuit," said Harris, "and I will continue to contribute as a member of the board. But the board and I agree that this is the right time for me to step back from day-to-day management of this billion dollar company so I can focus on my entrepreneurial interests."

Said Campbell, who will lead the search for a new CEO, "The board will move quickly to find the right person to lead Intuit in this next phase of growth. We are continuing to move decisively to execute our current strategy."

About Bill Campbell

Bill Campbell, 58, joined Intuit as president and chief executive officer in 1994. He transformed Intuit from a coalition of two small, newly public software companies into a $500 million financial software and services company. In August 1998, he was named chairman of the board.

Prior to Intuit, Campbell was president and chief executive officer of GO Corporation, a pen-based computing See gesture recognition and tablet PC.  software company. Campbell was formerly the founder, president and chief executive officer of Claris Corporation, which was purchased by Apple Computer Inc. in 1990. He joined Apple in July 1983, where he served in a number of capacities including executive vice president, group executive of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. .

About Bill Harris

Harris, 43, joined Intuit as executive vice president of Intuit's tax business in 1993 when Intuit acquired ChipSoft, Inc., the leading publisher of tax preparation software. In 1996, Harris added responsibility for the company's Internet strategy and business development. In 1997, Harris added responsibility for the Consumer Division, putting him in charge of more than half of the company's revenues. He was named CEO in August 1998.

Prior to Intuit, Harris served as ChipSoft's president and chief operating officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 from 1991 to 1993, during which time the company's revenues tripled and its market valuation increased ten fold. Prior to joining ChipSoft, Harris served as executive vice president of U.S. News & World Report U.S. News & World Report

Weekly newsmagazine published in Washington, D.C. U.S. News was founded in 1933 by David Lawrence (1888–1973) to cover important domestic events; he founded World Report in 1945 to treat world news. The two magazines were merged in 1948.
, and in various positions at Time Inc.

About Intuit

Intuit Inc. (Nasdaq:INTU) is the leader in e-finance, including financial software and Web-based services. Intuit develops and markets Quicken A popular financial management program for PCs and Macs from Intuit, Inc., Mountain View, CA (www.intuit.com). It is used to write checks, organize investments and produce a variety of reports for personal finance and small business. (R), the leading personal finance software; TurboTax(R), the best-selling best·sell·er also best seller  
n.
A product, such as a book, that is among those sold in the largest numbers.



best
 tax preparation software; and QuickBooks(R), the most popular small business accounting software.

Intuit's Quicken.com(R) Web site (www.quicken.com) is a leading financial Web site, offering a comprehensive set of financial news, information and tools, including insurance, mortgage, investment and tax preparation services Tax preparation services

Firm that prepare tax returns for a fee.
. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses.

Note to Editors: Intuit, Quicken, QuickBooks, TurboTax and MacInTax are registered trademarks of Intuit Inc. WebTurboTax is a servicemark of Intuit Inc. Quicken.com is a trademark of Intuit Inc.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Sep 23, 1999
Words:689
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