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INTUIT’S SMITH GETS PAY HIKE
Intuit has given its CEO, Brad Smith, a 22-percent hike in his base pay. Smith will receive $975,000 for the year ending April 30, 2012, up from $800,000 for fiscal 2011. And company executives, most of whom did not receive bonuses in fiscal 2010, got them for the year ending July 31. Smith received a 2011 bonus of $1,850,000.
The other big award went to Kiran Patel, the EVP who runs Intuit's small business group. His salary stayed at $700,000 for the fourth consecutive year. However, he received a 2011 bonus on $1,033,004, compared to none the prior year. Daniel Maurer, the SVP who runs the consumer group, saw his base pay jump to $512,000, up from $475,000. He received a bonus of $585,000 for 2011, compared to none the prior year. CFO Neil Williams will receive $675,000 in base pay for 2012, compared to $600,000 in 2011. His bonus for 2011 was $675,000, up sharply from $200,000 for 2010.
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