Norrington Exits Intuit; Seeks CEO Post

Lorrie Norrington, who served for three years as executive vice president at software provider Intuit Inc., has resigned from the company, which is headquartered here, to pursue a chief executive post. Her resignation was effective Jan. 7. Norrington came aboard at Intuit after heading several divisions at conglomerate GE, with the understanding that she would succeed incumbent chief executive Steve Bennett. Last year, however, Bennett announced his intention to lead the company for an additional five years. According to federal filings, Intuit will pay Norrington some $915,000 as part of a severance package, and a $640,500 performance-based bonus. In a statement, Bennett said, "Lorrie made significant contributions to Intuit in a number of areas over the last three years -- growing our QuickBooks and Quicken businesses, rebuilding our outsourced payroll business, and substantially improving the Intuit-branded small businesses. Her strong leadership skills and business acumen have made a positive, lasting mark upon Intuit. We thank her for a terrific job and wish her well."