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Estimated reading time: 1 minute, 52 seconds

Intuit Exec Pay Up—Except for CEO

Brad Smith,  IntuitIntuit executives received hefty hikes in compensation for the year ended July 30. The exception was CEO Brad Smith, who saw his pay fall to slightly more than $16 million for the most recently ended year, a decline of 3.2 percent from $16.5 million for fiscal 2014. Otherwise, the heads of the software company's two divisions and its CFO received double-digit increases, largely as the result of stock awards.

However, Smith's total for 2015 was still sharply higher from the $12.5 million he earned for fiscal 2013. As reported in the company proxy, filed on November 30 with the SEC, the compensation committee determined that when it came to cash bonuses, "that notwithstanding Mr. Smith's outstanding performance, his total direct compensation was competitive with the Company's peers, and the Committee did not adjust his cash bonus upward."

And in terms of Smith's overall compensation, the committee said "peer group analysis showed that Mr. Smith's total compensation was above the median of peer group CEOs."

The big winner was Sasan Goodarzi, the EVP who manages Intuit's consumer tax group. Goodarzi received $9.3 million last year, an increase of 65 percent from $5.6 million in fiscal 2014. His 2015 pay included $5.9 million in stock awards, up 83 percent from $3.2 million for the prior year. EVP Dan Wernikoff, who runs the small business group had 2015 compensation of $8.9 million, a rise of 44.8 percent from $4.9 million the prior year.

CFO Neil Williams received $7.9 million last year, a rise of 39.4 percent from $5.6 million the prior year. Chief Technology Officer Taylor Stansbury received $6.4 million for fiscal 2015. He was not a named executive in 2014.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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