Xero names US president; co-founder quits board

Drury tells NBR nothing should be read into his long-time business partner's decision to resign as a director.

NBR staff
Fri, 16 Dec 2011

UPDATE: Mr Drury told NBR that although co-founder Hamish Edwards has quit Xero's board, he will continue to do work for the company "two or three days a week" as he has done over the past year.

Xero wanted to put more distance between its management and the board, Mr Drury said.

Xero has appointed Jamie Sutherland to lead its US operation, based out of the NZ government subsidised Launching Pad in San Francisco.

Mr Sutherland has more than10 years experience running large teams at billion dollar corporations as well as running early stage ventures, Xero said in a statement to the NZX.

He was formerly with Sage - a company at times maligned by Mr Dury - where "he led the fastest growing North American business division, delivering successive years of profitable growth and scaling the organisation up to 170 employees, serving 500,000 small business customers."

Xero has also announced the departure of co-founder Hamish Edwards from its board.

Mr Dury told NBR that nothing should be read into his long-time business partner's departure, as previously flagged in an interim update.

"[We're] just making room for overseas experience. Five years on, we need the skills for the next phase of growth."

Xero shares [NZX:XRO] closed down 3.64% to $2.65.

NBR staff
Fri, 16 Dec 2011

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Xero names US president; co-founder quits board

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