TurboTax Parent Intuit Names New Finance Chief

By Ezequiel Minaya 

Intuit Inc., the maker of TurboTax and QuickBooks, said Tuesday that Chief Financial Officer R. Neil Williams will step down from his post next year after spending nearly 10 years with the company.

He will be replaced by Michelle Clatterbuck, a senior finance executive at Intuit.

Mr. Williams is slated to step down in January, with Ms. Clatterbuck taking the reins Feb. 1.

She is currently senior vice president of finance for Intuit's consumer tax group and acting finance leader for the company's small business group. She joined Intuit in 2003 from General Electric Co., according to her LinkedIn profile. Compensation details weren't immediately available.

Mr. Williams joined Intuit in 2008 after serving as CFO at Visa USA Inc., a subsidiary of Visa Inc., according to Intuit's website.

"Neil has decided to step away and embark on a new chapter, freeing him up from full-time employment to pursue other personal goals," Brad Smith, Intuit's chief executive, said in a statement.

During his time at Intuit, Mr. Williams "built a deep bench of strong financial leaders," Mr. Smith added. Just last month, Ned Segal, the company's senior vice president of finance for the $2.5 billion division that delivers QuickBooks to customers, was named CFO of Twitter Inc.

Intuit also said Tuesday in its latest quarter, it earned 20 cents on an adjusted per-share basis, which is better than the 17 cents expected by analysts polled by Thomson Reuters. Revenue for the period rose 12% to $842 million, better than the $804.6 million expected by analysts.

Write to Ezequiel Minaya at [e-mail]

(END) Dow Jones Newswires

August 22, 2017 17:46 ET (21:46 GMT)

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