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XERO REPLACING DRURY AS CEO Featured

Steve Vamos, XeroXero CEO and founder Rod Drury is being replaced after 18 years. On April 1, the job will be takeover by Steve Vamos, an executive with a high profile in the Pacific region.

The company announced Drury will focus on innovation and strategy as a non-executive director of the cloud software company.

Vamos' position include tenures as CEO of Microsoft Australia & New Zealand and VP and managing director of Apple Computer Asia Pacific. Drury held his leadership post for 11 years.

Vamos has worked with Xero's executive team for 18 months to develop its management capability and operating model, the company said in a prepared statement. Despite its growth, Xero has failed in its goal to embark on an initial public offering in the United States. After it raised $150 million in funding in this country, Xero first predicted it would go public before March 31, 2015.

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