Hot Topic
Hawke’s Bay
Xero, the cloud-based accounting software developer, has appointed former Microsoft chief financial officer Chris Liddell as its new chairman and ex-PayPal executive Peter Karpas to lead its North American unit.
The Wellington-based company's appointment of Liddell as chair is effective from today, with ex-KiwiBank chief Sam Knowles resigning as chair and director. US-based Bill Veghte, who runs HP's enterprise group, has also been appointed to the Xero board.
Karpas has been appointed chief executive, North America effective from Feb. 24, having recently been PayPal's general manager, North America for small and medium business. He has previously held a senor role at Intuit.
"As you would expect from a fast expanding software company, our strategy is to increase US representation on our board," chief executive Rod Drury said in a statement. "These three high calibre appointments are all significant additions to our American-based leadership team and position us strongly in the US and globally."
Xero is forgoing short-term profits as its chases one million customers worldwide, crossing the 200,000 mark at the end of last September, and raised $180 million last year, leaving it flush with funds to stake a claim in the US market.
The shares edged up 0.1 percent to $40.02 today, and have climbed 24 percent this year.
READ ALSO: Liddell signing points strongly to Xero Nasdaq listing - but analyst says it could be tough sell
Chris Keall
Wed, 12 Feb 2014
Wed, 12 Feb 2014
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Xero taps ex-Microsoft CFO Liddell as chairman, former PayPal exec Karpas to lead US unit
35547