Ann: DIRECTOR: XRO: Xero appoints Chairman, Direc

• Release Date: 12/02/14 14:39
• Summary: DIRECTOR: XRO: Xero appoints Chairman, Director, and CEO North America
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					XRO
12/02/2014 12:39
DIRECTOR

REL: 1239 HRS Xero Limited

DIRECTOR: XRO: Xero appoints Chairman, Director, and CEO North America

XERO LIMITED (XRO)
MARKET RELEASE

Xero appoints Board Chairman, Director, and CEO for North America

12 February, 2014

Xero Limited (XRO) has bolstered its Board and US management team with the
appointment of a new Board Chairman, adding a further US based Director, and
establishing a new role of CEO, North America following its $US150 million
capital raise in October 2013.

Chris Liddell takes on the role as Board Chairman, Bill Veghte has been
appointed as a Director, and Peter Karpas will lead the US team as CEO, North
America.

Xero CEO and Founder Rod Drury says, "As you would expect from a fast
expanding software company, our strategy is to increase US representation on
our Board. These three high calibre appointments are all significant
additions to our American-based leadership team and position us strongly in
the US and globally. Adding their combined experience and capabilities will
help us become the global leader in small business financial software."

Chris Liddell as Chairman of the Board of Xero Limited

New York based Chris Liddell has been appointed as independent Chairman of
the Board of Xero Limited, replacing Sam Knowles who has resigned as Director
and Chairman of Xero Limited effective today.

Liddell most recently worked with General Motors where he held the Vice
Chairman and CFO roles since joining the organisation in January 2010. He led
the company's global finance operations and its US$23 billion IPO in November
2010.

Prior to General Motors, Liddell held the Senior Vice President and CFO roles
at Microsoft between 2005 to 2009, served as CFO of International Paper from
2003 - 2005 and held the CFO role at Carter Holt Harvey from 1995 to 1998
before becoming CEO in 1999.

Departing Chairman of the board Sam Knowles sees Xero's move to a US-based
Chairman as the next logical move for Xero's transition to a global business.

Xero CEO Rod Drury says, "Sam has helped guide us through a period of rapid
global expansion to over 600 people operating across four countries. His
experience ensured we put in place the right foundations, systems and
processes that enabled us to scale, while retaining our nimbleness and
culture. We thank him for his enormous contribution and leadership."

Bill Veghte appointed Director, based in the US

Based in San Francisco, Bill Veghte has been appointed as an independent
non-executive Director of Xero Limited. Bill runs HP's Enterprise Group where
he is Executive Vice President and General Manager. In his role, he is
responsible for the development and delivery of IT infrastructure solutions
and the direction, management, and delivery of HP's cloud efforts.

HP's Enterprise Group is a US$28 billion annual revenue business that
includes server, storage, networking, technology services, and cloud
solutions.
Prior to HP, Veghte spent nearly 20 years at Microsoft where he held roles
such as Corporate Vice President for Windows Server, then Corporate Vice
President, North America before acting in the role of Senior Vice President
until May 2010.

Peter Karpas appointed to new role of CEO, North America

Peter Karpas will assume the new role of CEO, North America. Peter joins Xero
from PayPal where he recently held the position of Vice President and General
Manager, North America for Small & Medium Business. Karpas has also held a
number of senior roles at Intuit, including Chief Marketing and Product
Management Officer and Senior Vice President.

Xero CEO Rod Drury comments  "We are thrilled to have Peter join our team and
lead our US business. His proven leadership, comprehensive familiarity with
the B2B market in North America in both accounting and payments will help our
drive for growth in the USA where there are over 29 million small
businesses."

Peter's appointment will be effective as of 24 February, 2014.

ENDS

For more information, interviews or for further commentary please contact:

Rod Drury
Chief Executive
[email protected]
+64 27 600 0007

Emma Izatt
Communications Manager
[email protected]
+64 21 084 24623

About Xero
Xero provides beautiful, easy to use online accounting software for small
businesses and their advisors. The company has over 200,000 paying customers
in more than 100 countries around the world and is listed on the NZX and ASX.

See http://www.xero.com
End CA:00246917 For:XRO    Type:DIRECTOR   Time:2014-02-12 12:39:02