Intuit Inc. announced that Bill Campbell, long-time executive, Intuit board member and chairman, will step down from his role and retire from the board at the end of his current term, in January 2016. Brad Smith will become Chairman effective January 2016. Brad has been the architect of a complete transformation of Intuit, from a North American desktop software company to a global, cloud-based SaaS leader.

In conjunction with the appointment of Smith to Chairman, Suzanne Nora Johnson will become Lead Independent Director. An Intuit board member since 2007 and chair of the Acquisition Committee since 2012, Nora Johnson will contribute her extensive experience from her tenure as Vice Chairman of the Goldman Sachs Group Inc. in managing large, complex, global institutions as well as insights into how to manage change in the financial services industry, public policy and the macro-economic environment. Nora Johnson currently serves in various leadership roles on the boards of American International Group Inc., Pfizer Inc., and VISA Inc. Bill Campbell has served as Intuit Chairman, CEO and executive coach for more than two decades.

With his retirement from the board and in recognition of his many years of service and commitment to the company, Intuit has named Campbell Chairman Emeritus. The company also announced Edward Kangas will step down from the company's board of directors. Kangas, who also serves as non-executive Chairman of the Board of Directors of United Technologies Corporation, has served on Intuit's board since 2007.

All changes will be effective at the annual shareholder meeting in Jan. 2016.