Sukhinder Singh Cassidy takes over from retiring Steve Vamos in February.
Xero appoints tech high-flyer as next CEO
Accounting platform Xero has appointed high-profile tech executive Sukhinder Singh Cassidy to take over as CEO when Steve Vamos retires next year.
Ms Singh Cassidy becomes CEO on 1 February after a period of transition working with Mr Vamos from 28 November.
“As Xero continues to focus on achieving our global ambitions, we’re delighted to appoint someone of Sukhinder’s calibre as CEO to lead Xero through our next phase of growth,” said chair David Thodey.
“Sukhinder’s appointment follows a rigorous global recruitment process where we considered a number of exceptional candidates.”
“Sukhinder is a purpose-driven and human-centred leader who is passionate about supporting our customers and is committed to growing and nurturing Xero’s unique and vibrant culture.”
Ms Singh Cassidy has more than 25 years of global leadership experience, including as president of Asia-Pacific and Latin America at Google, president of StubHub, founder and CEO of Joyus, and public and private board experience with multiple companies.
“I’m thrilled to be appointed as CEO and appreciate the Xero board’s confidence in me,” said Ms Singh Cassidy. “What excites me about Xero is the people and culture of the company and the passion Xero’s partners and customers have for our product as well as the large total addressable market opportunity.”
“I believe Xero is a critical business tool for small businesses and their advisers. There are huge opportunities in front of us and I’m committed to building on the business’ great momentum, in line with Xero’s values.”
“I’m looking forward to meeting Xero’s people, partners, customers and shareholders around the world, and leading the business through its next stage.”
Mr Thodey said Mr Vamos had made a “significant contribution” to Xero’s growth into a global company.
“Steve has led Xero from 1.4 million to 3.5 million subscribers; from $484.4 million to $1.5 billion annualised monthly recurring revenue; and total subscriber lifetime value from $3.2 billion to $13 billion.”
“Steve is a highly respected leader. He led our people, customers and partners through COVID as many of our small business customers, bookkeepers, accountants, and ecosystem partners had to adapt the way they operated and find pathways for business survival.”
Mr Vamos said he was looking forward to facilitating a smooth transition of leadership before stepping away.
“I’m excited about Sukhinder’s appointment and believe she is very well placed to lead Xero through its next phase of development,” he said.
“Sukhinder has the opportunity to take Xero to the next level and continue to deliver world-class products and services that are critical for our customers and partners.”
“It has been a privilege to build on the legacy of our founder Rod Drury to position Xero for continued growth around the world.”
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