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| Intuit Names Kiran Patel Chief Financial Officer |
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MOUNTAIN VIEW, Calif., -
September
07,
2005 -
Intuit Inc. (Nasdaq: INTU) today announced the hiring of Kiran Patel as senior vice president and chief financial officer. In this role, Patel will report to Steve Bennett, Intuit's president and chief executive officer, and will be responsible for all financial aspects of the company, investor relations and the management of its supply chain, order-to-cash process, procurement and real estate.
"Kiran is a proven business leader, with extensive financial, operating and general management experience," said Bennett. "He has an outstanding track record of delivering great results for customers, employees and shareholders throughout his career. He will be an excellent addition to Intuit's senior leadership team and I'm really glad he's joining us."
Patel, 57, joins Intuit from Solectron Corp. (NYSE: SLR), a leading global provider of electronics manufacturing and integrated supply chain services, where he served as executive vice president and chief financial officer since 2001. In that role he led Solectron's finance, legal, investor relations and business development activities.
Before joining Solectron, Patel had a 27-year career with Cummins Inc., a worldwide designer and manufacturer of diesel and natural gas engines, engine components and subsystems. In addition to holding a number of finance positions at both the operating unit and corporate levels, he led a number of business units, including the company's Brazil subsidiary and Fleetguard Inc. units. In 1996, he became vice president and chief financial officer and was promoted to executive vice president in 1999.
"Intuit is a world-class company, with great brands and an outstanding management team," said Patel. "I've used Intuit products for about 15 years, and have admired the company from a customer's perspective. I'm excited about working with the entire Intuit team as we strive to deliver even greater value for customers, employees and shareholders."
Patel is a certified public accountant and holds a master's degree in business administration and a bachelor's degree in electrical engineering from the University of Tennessee. He succeeds Brad Henske who became general manager of Intuit's consumer tax business in May 2005.
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About Intuit Inc.
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Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses, 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.
Founded in 1983, Intuit had annual revenue of more than $2 billion in its fiscal year 2005. The company has nearly 7,000 employees with major offices in 13 states across the United States, and offices in Canada and the United Kingdom. More information can be found at www.intuit.com.
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Intuit, the Intuit logo, Quicken and QuickBooks, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.
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