It also reported CEO Rod Drury spends two out of five weeks here and company CFO Ross Jenkins is in the United States. Simon McIver, VP of global sales operation is acting as U.S. sales VP and Andy Lark is incoming chief marketing officer. That's a weak story for a company that wants to have an IPO in this country before March 31. For some reason, Xero chose to emphasize it passed $100 million in annualized subscription revenue. Among other trends, Australia became Xero's largest country with 158,000 users on September 30, a 100-percent increase, while New Zealand hit 119,000, up 38, percent. North American reach 22,000 a rise of 120 percent and the total was 371,210, moving up 76 percent over the year ago worldwide total. The estimated loss for the first half is $22.1 million.
XERO EXECS SHORE UP U.S. Featured
Whatever specifically led to the September resignation of Peter Karpas as CEO of Xero North America, the New Zealand cloud company's half-year report points in the direction. Under U.S. performance in the presentation is the phrase "Dissatisfied with execution and leadership". This is not where you want to be when you are the challenger. In its operating report for the first half ended September 30, Xero said it is recruiting a local leadership team.
