Xero Appoints US CEO, Board Chairman and Director as It Continues Rapid Growth

Xero Appoints US CEO, Board Chairman and Director as It Continues Rapid Growth 
Company Further Invests in US Growth With New Executive Talent From
General Motors, HP, PayPal and Intuit 
SAN FRANCISCO, CA -- (Marketwired) -- 02/11/14 --  Xero, the global
leader in online accounting software, today 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 distinguished 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."  
Xero has quickly become the go-to small business backend system. 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.  
Peter Karpas, CEO, Xero North America 
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. 
Chris Liddell, Chairman of Xero  
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, Board Director of Xero  
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. 
About Xero
 Xero is beautiful, easy to use online accounting software
for small businesses and their advisors. The company has over 200,000
paying customers in more than 100 countries around the world.
Recently Xero garnered a five-star review for Software As Service
from CPA Practice Advisor. The Xero US team is headquartered in San
Francisco. Xero is hosted with Rackspace in Chicago. 
To gain insight on how to grow your small business, visit Xero's
Small Business Guides. 
President, Xero US
Jamie Sutherland
(415) 806-1107
Media Contact:
Bill Bode
Highwire PR
O: (415) 963-4174, ext. 49
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