Brad Smith who has held the job of CEO of Intuit since January 2008, will retire at the end of the year. He will be replaced on January 1 by Sasan Goodarzi, EVP and GM of Intuit’s Small Business and Self-Employed Group.

Intuit's directors apparently liked what they saw in the performance of CEO Brad Smith as they approved a nearly 19-percent raise in base salary, effective for the year ending April 30, 2011, and a 46 percent increase in bonus awarded for fiscal 2010. Although bonus and salary often have less value than stock and option awards as part of executive compensation, it was a good result for Smith, who completed his second complete fiscal year in April. And performance-based bonuses for all executives were generous.