Xero Has Just Hired A Big Silicon Valley Name As Its New CFO

XERO employee. Photo: supplied.

Xero, the accounting software company flipping the industry on its head, has announced the appointment of Douglas Jeffries as its new Executive Vice President and CFO.

His new role will see him responsible for Xero’s financial and administrative functions, and replace Ross Jenkins, Xero’s current CFO, who will assume a new role as Xero’s COO.

Jeffries is expected to start by March.

“I’m excited to be joining a company so focused on delivering a compelling user experience through product innovation, and in turn driving incredible growth,” he said.

Douglas Jeffries, CFO of Xero. Photo: PRnewswire.

Jeffries brings 30 years of financial, strategic and operational leadership at growth companies such as RetailMeNot, Taleo Corporation, Palm and Ebay.

In addition, Xero announced Greg Volm, previously senior director of North America sales for Zendesk, as VP of US Sales; and Matt Jefferson as UK Sales Director.

Xero CEO Rod Drury said the pedigree of these latest signings is proof of Xero’s growth potential.

“Doug brings a world class technology finance background to ready us for more growth and strengthen our leadership in North America,” he said.

“Ross’ ability to now focus on scaling our field operations to address the incredible market opportunity is perfectly timed. Greg and Matt offer us years of experience in successful sales execution. I couldn’t be happier with this next iteration of our organisation and its leadership.”

Xero, an NZX and ASX listed company, provides online accounting software for SMEs and their advisors. The Company has over 400,000 customers in more than 180 countries and over 1,100 employees.

The company is at war with cloud-based accounting providers MYOB and Intuit’s Quickbooks Online, as they race to secure the cloud-based market share in Australia, and has been reported as the one behind the momentum.

“It’s game on with Intuit in the US,” Drury said adding they’re using “all the tricks to keep us out, which is quite fun.”

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