Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Xero overhauls executive structure

Monday 31 October 2016 10:08 AM

Xero overhauls executive structure, appoints new Americas head

By Paul McBeth

Oct. 31 (BusinessDesk) - Xero has overhauled its executive structure in its drive to generate $1 billion in revenue, appointing a new head of its Americas operation and giving chief financial officer Sankar Narayan more responsibility to build out the business.

The Wellington-based company's new management structure will see country managers reporting to chief executive Rod Drury, the disestablishment of Andy Lark's chief marketing and revenue officer position and the creation of a chief marketing officer role to focus on brand and marketing, Xero said in a statement. The establishment of the chief people officer and chief accounting roles free up CFO Narayan "to broaden his focus to drive operational outcomes and revenue globally," it said.

Xero has hired former Capital One executive Keri Gohman to run its Americas business, which she will run from Denver "where future US operational investments will be focused, supporting Xero's hubs in San Francisco, New York, Austin and Seattle" when she starts in December, it said.

The cloud-based accounting software developer's current US head, Russ Fujioka, will leave the company at the end of the year, and Andy Lark will also depart.

Xero expects to cross the one million customers this year, and has set a target of achieving $1 billion in annual revenue. The company had 717,000 customers as at March 31 with annualised monthly committed revenue of $258 million for its cloud-based accounting software.

The shares were unchanged at $17.84, and have dropped 9.9 percent so far this year.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tornado Aftermath: More Storms Forecast For New Plymouth

Up to 30 homes were damaged Monday night when a tornado roared through a New Plymouth suburb last night , cutting power lines, tearing off roofs, and toppling trees. More>>

ALSO:

Government Investment Rejig: Sustainable Food & Fibre Futures Launched

Growing New Zealand’s food and fibre sectors sustainably and supporting a thriving economy are the hallmarks of a new investment programme announced today by Agriculture Minister Damien O’Connor. More>>

Dump Levy Options: Waste Work Programme Announced

Associate Environment Minister Eugenie Sage has announced a programme of work to take action on New Zealand’s long-neglected waste problems. More>>

ALSO:

Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>

ALSO:

Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO: