Xero appoints US CEO, Board Chairman and Director as it continues growing
Posted on 12-Feb-2014 20:17.
Filed under: News
Online accounting software company Xero has announced the expansion of its US executive team and Board of Directors with the appointment of Peter Karpas as Chief Executive Officer in North America, Chris Liddell as Chairman of the Board and Bill Veghte as a Director of the Board. These appointments come on the heels of rapid company growth, adding leadership with executive experience from S&P and Fortune 500 companies that include HP, PayPal, Microsoft, General Motors and Intuit.
"As you would expect from a fast expanding software company, our strategy is to increase US representation on our board," said Rod Drury, CEO, Xero. "These three high caliber appointments are all significant additions to our American-based leadership team and position us strongly in the US and globally. Adding their combined experience and capabilities will help us become the global leader in small business financial software."
With a strong open API partner ecosystem in the cloud, Xero gives small businesses the recipe for success by allowing the integration of critical business tools needed to not only succeed, but thrive. Xero's mission is to empower small businesses with a real time, easy-to-use and intuitive financial system that leads to smart financial decisions and overall business success.
More details about the new executives:
Peter Karpas has been named Xero's CEO, North America. Karpas joins Xero from his recent position at PayPal, where he was the Vice President and General Manager, North America for Small and Medium Business. Karpas has also held a number of senior roles at Intuit, including Chief Marketing & Chief Product Management Officer and Senior Vice President.
Karpas' proven leadership and comprehensive familiarity with the B2B market in North America in both accounting and payments will help drive company growth in the US, where there are more than 29 million small businesses.
"The small business market is a massive opportunity and one that I am tremendously passionate about. Hard working business owners across the US contribute to more than half of our nation's GDP, and Xero is driven to help these businesses prosper," said Karpas. "I'm beyond thrilled to work with US President Jamie Sutherland and the team, as I've been a huge fan of Xero's cloud platform for several years and am impressed with its progress and customer centric approach. I believe we can be the No. 1 solution for small businesses in America and we're building the best team to make that happen."
Karpas' appointment will be effective as of February 24, 2014.
New York-based Chris Liddell has been appointed as Chairman of Xero, replacing Sam Knowles who has resigned as Director and Chairman of Xero effective today.
Liddell most recently worked with General Motors (GM) where he held the Vice Chairman and CFO roles during his tenure. While at GM, he led the company's global finance operations and $23 billion IPO November 2010.
Prior to General Motors, Liddell was the Senior Vice President and CFO at Microsoft (2005 - 2009), served as a CFO of International Paper (2003 - 2005) and at Carter Holt Harvey from 1995 to 1998 before becoming CEO in 1999.
Bill Veghte is based in San Francisco and has been appointed to the board as Director of Xero. Currently, Veghte runs Hewlett Packard's (HP) Enterprise Group where he is Executive Vice President and General Manager. In his role, he is responsible for the development and delivery of IT infrastructure solutions and the direction, management and delivery of HP's cloud efforts.
HP's Enterprise Group is a $28 billion annual revenue business that includes server, storage, networking, technology services and cloud solutions. Prior to HP, Veghte spent nine years at Microsoft where he was the Corporate and then Senior Vice President for Windows Server.