Intuit Names New Leader for Financial Services Unit

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU) today named CeCe Morken, 53, as vice president and general manager of Intuit Financial Services.

Morken succeeds Sasan Goodarzi, 42, who has accepted a position as Chief Executive Officer of Nexant, a privately held firm in the clean energy industry. Since joining Intuit in 2004, Goodarzi has successfully led Intuit's vertical software solutions division, professional tax division and, since 2008, Intuit Financial Services.

"Under Sasan's leadership, Intuit Financial Services has introduced new offerings in the market while strengthening the fundamentals of the business for long term growth," said Brad Smith, Intuit president and chief executive officer. "Sasan assembled a strong management team and clearly defined a winning strategy that is producing tangible results. I want to thank him for all his contributions to Intuit.

"CeCe Morken has a breadth and depth of experience and understanding in the banking industry. Over her many years with IFS, and Digital Insight prior to being acquired by Intuit, she's built strong relationships with valued industry partners as well as key customers and prospects. Her strategic thinking, commercial experience and proven track record of delivering results have prepared her well to lead this business," Smith said.

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(R), Quicken(R) and TurboTax(R), simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries(R) and Lacerte(R) are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

About Intuit Financial Services

Intuit Financial Services helps banks, credit unions and other financial institutions grow by making it easier for consumers and businesses to manage their money. We've applied more than three decades of customer insights to build an innovative portfolio of on-demand solutions and services that anticipates and meets their needs. Learn more at www.ifs.intuit.com.

    Source: Intuit Inc.

Released November 16, 2010