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Intuit falls after CEO exits
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September 24, 1999: 11:07 a.m. ET
Personal finance software firm's shares tumble 6% in early trading
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NEW YORK (CNNfn) - Shares of Intuit Inc. dropped more than 6 percent in early Friday trading as investors digested the news of Bill Harris' resignation as chief executive of the software firm.
Harris, the architect of Intuit 's (INTU) Internet strategy, left the firm after serving as CEO for the past year, the company announced late Thursday.
Shortly before 11 a.m. ET, Intuit shares fell 6-9/16 to 94.
In 1996, while serving as an executive vice president, Harris took charge of Intuit's Internet strategy and business development. Twenty percent of Intuit's revenue now comes from the Internet.
Intuit, best known for its Quicken and TurboTax software programs, is the world's largest provider of personal finance software.
Intuit tapped Bill Campbell, the company's chairman, to take over as CEO until it finds a permanent outside replacement. Harris will remain on the board and assist in the transition.
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