Xero has announced Trent Innes as Australian managing director from late March as current MD Chris Ridd resigns after five years.
Current Xero Australia MD, Chris Ridd, has said that he’s confident in Innes’ experience and “gusto to accelerate Xero’s growth”. Ridd will work as an advisor to the cloud accounting company’s executive team in 2016.
So what do we know about Xero’s next managing director?
Innes has a sales and accounting background. He has been national sales director at Xero Australia for almost three years and is a qualified Certified Practicing Accountant (CPA). And, before he joined Xero, he managed the ERP and CRM business as national sales manager at Microsoft.
Innes has publically states that his first priority as managing director is to expand Xero’s market share. Xero currently hold roughly 15 per cent of the Australian accounting software market.
How is Xero fairing?
Last November, Xero reported a net loss of $AU40.9 million at the end of the half year, which ended 30 September 2015, despite a 60 per cent increase in paying subscribers from 30 September 2014.
Xero says it expects to expand its executive team in Australia this year.