Xero Names New CEO

Steve Vamos

Steve Vamos

Xero, a cloud accounting company, named Steve Vamos as its new global CEO. Previous CEO, Rod Drury, will remain with the company as a non-executive director.

“What Rod and Xero have accomplished is rare and remarkable,” says Vamos. “I’m excited to have this opportunity to lead Xero’s growth and development going forward. I have really enjoyed the opportunity to work with the Xero leadership team and we have a clearly communicated strategy, which we are committed to executing.”

Vamos has 30 years of experience including being the former head of Microsoft Australia. Prior to that, he served as managing director of Apple Computer Australia and New Zealand, and in various executive and professional roles at IBM between. Vamos also led the growth and development of an online media business in his role as CEO of Ninemsn, a joint venture between Microsoft and former Australian media company Publishing and Broadcasting Limited.

“Succession planning has been high on the board’s agenda and with the business performing strongly, we believe the time is right to make the transition at CEO level,” says Xero chair Graham Smith.

“Xero has recently achieved a number of key milestones: We’ve achieved positive EBITDA and operating cash flows, consolidated our listing on the ASX and built an exceptional leadership team. It’s now the right time for me to pass the baton to Steve, who has the experience to significantly expand Xero internationally. Steve has demonstrated to the board and me that he has the skills and experience we need to execute Xero’s next phase of growth, while I contribute to strategy as a non-executive director with my passion for product innovation,” says Drury.