Sharechat Logo

Xero mulling chairman Chris Liddell's status after White House appointment

Wednesday 18th January 2017

Text too small?

Cloud-based accounting software company Xero says it is still considering whether chairman Chris Liddell's position is compatible with his new role as a White House adviser in the Trump administration and will update the market when a decision is made.

Kiwi expat Liddell, a former Microsoft executive, has been appointed an assistant to US President-elect Donald Trump, heading up the strategic development group and taking a lead on bringing the incoming president's big-ticket projects. Republican candidate Trump won last year's November election with a campaign promising major infrastructure spending, tax reform, and more protectionist trade and immigration policies. He will officially take over the White House at his inauguration on Friday in Washington. 

Wellington-based Xero is still determining what that will mean for Liddell's seat at the chair of the board, a position he's held since 2014. 

"We've only just officially heard the news ourselves so we’re working out what that means for us and whether as board chair, he will have to resign his directorships as per government policy," a spokeswoman said in an email. "Chris is working through his options, and when decided, the board will make a formal announcement."

Last year, Xero centralised its US operations in Denver where it plans to service the world's biggest economy with hubs in San Francisco, New York, Austin and Seattle. The company hired former Capital One executive Keri Gohman to run its American business, which is central to the New Zealand firm's ambitions to be a global player. 

Liddell's board appointment coincided with that of Hewlett-Packard executive Bill Veghte and was part of a plan to bolster its North American leadership credentials. 

Xero's shares last traded at $18.50, up 14 percent from a year earlier.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares follow Asian markets higher on renewed hopes for China-US resolution
Housing Ministry head hints he acted against departed KiwiBuild head Stephen Barclay
NZ dollar heading for 1% weekly slide as outlook weakens
Currency frozen in multi-million dollar Cryptopia theft
NZ manufacturing activity hits highest level since April
Tilt affirms guidance; Dec qtr production misses long-term expectations
NZ dollar extends slide as Philly Fed lifts sentiment in US
January 18th Morning Report
MARKET CLOSE: NZ shares get further lift from positive offshore markets
NZ dollar extends decline amid mixed data

IRG See IRG research reports