Intuit Names Three Executives to Management Team; New Managers Lead Small Business, Information Technology and QuickBase Division

Business Wire, August 10, 2001

Business Editors

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aug. 10, 2001

Intuit Inc. (Nasdaq:INTU) announced the hiring of three top executives today, completing the foundation of a core management team that is expected to lead the company's growth in the small business arena and strengthen its information technology capabilities. Intuit President and Chief Executive Officer Steve Bennett announced the appointments of Lorrie Norrington, senior vice president for the small business division; Michael Hrastinski, senior vice president and chief information officer; and Jill Ward, vice president and general manager for QuickBase. All three will report directly to Bennett.

"These three outstanding leaders round out an already-strong management team and will help provide the leadership, vision, management depth and discipline we need to continue our profitable growth," said Bennett. "Their experience strengthens us across the board and positions us well for the future."

Lorrie Norrington -- Senior Vice President, Small Business Division

Norrington, 41, is the former president and chief executive officer of GE Fanuc Automation, a global leader in factory automation products and solutions. The unit is a global joint venture between General Electric and Fanuc Ltd. of Japan. In her new role, Norrington will lead the entire small business effort for Intuit.

Norrington began her 20-year career at General Electric. Prior to her last position, she was president and chief executive officer of GE's Commercial Shopping Network, GECSN,com, a Web-centric startup business in General Electric Capital Services. Other assignments included leading the $850 million Electrical Distribution Components business and the $280 million Equipment business.

Michael Hrastinski -- Senior Vice President and Chief Information Officer

Hrastinski, 52, is the former senior vice president and chief information officer for Ariba Corp. While there, he led the information technology and facilities departments during their 24-month period of unprecedented growth.

As Intuit's senior vice president and chief information officer, Hrastinski will be responsible for all aspects of the company's technology infrastructure that supports growth and high-quality customer service.

Prior to joining Ariba, Hrastinski held senior management positions within a variety of major technology companies, including Fortune 500 corporations. He served as vice president and CIO of global information systems for Symantec Corp.; director of systems and facilities for Software Publishing Corp.; and director of systems and facilities for McDonald's Corp. He also held senior marketing and sales positions with Wang Laboratories.

Jill Ward -- Vice President and General Manager, QuickBase

Ward, 41, is the former president of Telespectrum Customer Care in San Diego, a $100 million customer relationship management outsourcing company. In her new role, Ward will define the QuickBase strategy, plan and business model, and lead the team in the execution of that plan.

QuickBase, a revolutionary subscription-based information management system, enables non-technical computer users to quickly set up shared databases on the Web. Launched in December 2000, the product has already attracted tens of thousands of registered users, representing businesses ranging from one employee to large enterprises with thousands of employees. QuickBase gives workgroups of all sizes an easy, reliable and affordable way to organize, manage and share critical business information entirely over the Internet.

Prior to her position at Telespectrum, Ward held several senior vice president positions at Fidelity Investments in Boston and was a manager, case team leader and consultant at Bain & Company in Boston.

About Intuit Inc.

Intuit Inc. (Nasdaq:INTU) is the leading provider of financial software and Web-based services for consumers, small businesses and accounting professionals. Its flagship products and services, including Quicken(R), QuickBooks(R), Quicken TurboTax(R) and Quicken Loans(R) simplify personal finance, small business management and payroll processing, tax preparation and filing, and home loans.

Founded in 1983, Intuit has annual revenues of more than $1 billion and reaches 22 million customers with more than 5,000 employees in 13 states and four countries. More information can be found at www.Intuit.com