XRO
24/04/2015 08:42
OFFICE
NOT PRICE SENSITIVE
REL: 0842 HRS Xero Limited
OFFICE: XRO: Douglas Jeffries resigns as CFO
MARKET RELEASE
Douglas Jeffries resigns as CFO
24 April 2015 - Xero Limited (NZX/ASX: XRO) announced that Douglas Jeffries,
who recently joined Xero's global leadership team as Chief Financial Officer,
will step down to pursue opportunities headquartered in the San Francisco Bay
area.
"This was a very difficult decision given Xero's momentum and business
potential. The decision to leave is entirely based on my personal objectives
and the timing is in no way a reflection of business or financial reporting
concerns. It has been especially pleasing over the past few months to see
the US leadership team form and deliver improved results," said Jeffries.
"Ross Jenkins will reassume the role of CFO. His three-plus years experience
in the CFO role, extending to as recently as two months ago, will ensure
minimal impact on the business. We remain satisfied with the integrity of our
financial reporting, systems, and leadership," said Graham Shaw, Chair of
Xero's Audit and Risk Committee.
Xero has three former and current CFOs on its Board. Graham Shaw, Chair of
Xero's Audit and Risk Committee; Chris Liddell, Chairman of Xero's Board, who
was the CFO of Microsoft and GM, and is currently CFO of WME/IMG; and Graham
Smith, who was CFO of Salesforce until 2014.
The Company has commenced a search for a Chief Financial Officer.
ENDS
About Xero
Xero is beautiful, easy-to-use online accounting software for small
businesses and their advisors. The company has 475,000 paying customers in
more than 180 countries. Xero seamlessly integrates with over 400 third-party
tools, and was recently ranked No. 1 by Forbes as the World's Most Innovative
Growth Company.
For more information contact:
Rod Drury
Xero CEO
[email protected]
+64 27 6000 007
End CA:00263525 For:XRO Type:OFFICE Time:2015-04-24 08:42:41
