Intuit Inc. (Nasdaq: INTU) today announced the appointment of Dennis Powell, senior vice president and chief financial officer of Cisco Systems, to its board of directors. The appointment of Powell to a new position on the board builds on the strength of the team and brings the number of members of Intuit's board to nine.
"As CFO of a successful, multi-billion dollar company, Dennis brings strong financial expertise and reinforces our commitment to financial responsibility," said Bill Campbell, Intuit's chairman of the board. "The board has asked him to serve on its audit committee, enhancing the measures we've taken to ensure uncompromising financial reporting and long-term shareholder value. Dennis will be a great addition to a strong team."
Powell joined Cisco in 1997 and was appointed to senior vice president and CFO in 2003. He was instrumental in driving corporate initiatives to implement Securities and Exchange Commission and Financial Accounting Standards Board changes and requirements.
Prior to joining Cisco, Powell had a 26-year tenure at Coopers & Lybrand LLP. As a senior partner, he was the engagement lead for several large multinational clients. Powell was also a National SEC reviewer for the firm and had regional responsibilities for audit quality assurance in the United States.
