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Intuit names new chief

Stephen Bennett, former executive vice president and member of the CEO office at GE Capital, is filling the post formerly held by Bill Harris.

Financial software maker Intuit today announced it hired an executive from GE Capital as its new president and chief executive.

Stephen Bennett, former executive vice president and member of the CEO office at GE Capital, is filling the post formerly held by Bill Harris, who resigned last September. Harris has since joined X.com, a financial services site.

Intuit's chairman, Bill Campbell, had served as acting CEO until a replacement was found. He will remain as chairman.

Bennett's experience "is tailor-made to fit Intuit's needs now and in the future. We wanted someone with service industry knowledge and who had led large, complex organizations and with proven ability to produce fast growth," Campbell said in a statement.

GE Capital is the financial services subsidiary of General Electric. Bennett oversaw GE Capital's portfolio of five companies and had previously served as chief executive of GE Capital's e-Business. While with e-Business, Bennett led the company's efforts to use the Internet across GE Capital's portfolio of businesses.

Intuit, which has seen its share price soar three-fold since October, closed down at 1 p.m. PST by $8.06, or about 11 percent, to $67.56. The company announced Bennett's appointment after the markets closed. In after-hours trading its shares climbed to $68.94.