XRO
12/09/2014 09:20
OFFICE
REL: 0920 HRS Xero Limited
OFFICE: XRO: U.S. Leadership Changes
XERO LIMITED (XRO)
MARKET RELEASE
12 September 2014
U.S. LEADERSHIP CHANGES
Xero Limited (XRO) announces that Peter Karpas is stepping down as Xero's
head of North America.
Ross Jenkins, Xero's CFO, currently based in San Francisco, will lead Xero's
operations in the U.S. until Xero appoints Peter's replacement.
Rod Drury, Xero's CEO, says "We are grateful to Peter for his work and
recognise his contributions in helping Xero become the fastest growing cloud
accounting company across the globe. In his time at Xero, Peter helped
establish strong foundations for Xero in the U.S. market."
The company is concentrating on delivering best-in-class U.S. product
features, building out its sales team, and launching a number of key
partnerships. This will place it in a strong position for the end-of-year
selling season in the U.S. and to create the platform for growth in 2015 and
2016 as the adoption of cloud accounting accelerates.
Xero continues to build its Global and U.S. leadership teams and expects to
make a number of key appointments over the next 3 months.
In August this year, Xero passed US$100m annualised committed monthly
revenue. Subscription revenue growth is expected to be approximately 80%, on
a constant dollar basis, for the current financial year.
-ENDS-
For more information contact:
Rod Drury
Xero CEO
[email protected]
+64 27 6000 007
Sharna Brockett
Director of U.S. PR
+1 415-837-3291
[email protected]
End CA:00255162 For:XRO Type:OFFICE Time:2014-09-12 09:20:35
