Xero, the cloud-based accounting software firm, named US-based Douglas Jeffries as its new chief financial officer, replacing Ross Jenkins who will take on the new role of chief operating officer responsible for field operations.
Jeffries, who has 30 years of financial, strategic and operational leadership at growth companies such as RetailMeNot, Taleo Corp, Palm Inc, and Ebay Inc, will be responsible for all Xero's financial and administrative functions, the Wellington-based company said in a statement.
Based in San Francisco, he will report to Xero chief executive Rod Drury starting in March, it said.
The software developer wants a million customers, and is targeting growth in the US market where it sees the potential to take market share of an estimated 29 million small to medium sized business owners.
The company has said its execution in the North American market hasn't matched expectations and it is making key leadership changes in the region to accelerate future growth.
