Intuit Names Stratton Sclavos to Board of Directors; VeriSign CEO Brings Leadership Experience in Growth, E-commerce Security

Business Wire, July 30, 2001

Business Editors

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--July 30, 2001

Intuit (Nasdaq:INTU) has announced the appointment of Stratton Sclavos, president and chief executive officer of VeriSign, Inc. to its board of directors. The appointment is effective Aug. 1.

Sclavos, 39, joined VeriSign in 1995 and has guided the company to become the leading provider of trusted infrastructure services to Web sites, enterprises, electronic commerce service providers and individuals. The company provides the critical identity, authentication and transaction infrastructure that online businesses require to conduct secure e-commerce and communications. Under Sclavos's leadership, the company has grown from four employees and less than one million dollars in annual revenues in 1995 to more than 2,000 employees with annual revenue of $475 million in fiscal year 2000.

"Stratton Sclavos is an outstanding entrepreneur and business leader. His perspective will prove valuable to our board," said Intuit Chairman Bill Campbell. "He's led a company through an incredibly fast growth period and brought it to profitability in less than five years. In addition, he understands that the future success of e-commerce depends upon a secure, trusted infrastructure. That experience will help Intuit as our customers increasingly rely on the Internet to manage their business and personal finances."

Prior to joining VeriSign, Sclavos served as vice president of worldwide marketing and sales for Taligent, Inc. and vice president of worldwide sales and business development for GO Corp. He also held various senior management positions at MIPS Computer Systems prior to and following its merger with Silicon Graphics, Inc.

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 online home loans.

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