Xero CFO Jeffries leaves after 2 months in the role

Friday 24th April 2015

Xero, the cloud based accounting software firm, said its US based chief financial officer Douglas Jeffries is leaving to pursue other opportunities after only two months in the role.

San Francisco based Jeffries, who was appointed to the role in January with a March start date, said his departure is based on his personal objectives and didn't reflect the business or financial reporting concerns. The company's previous CFO Ross Jenkins will reassume the role while the company searches for a replacement, Wellington based Xero said in a statement.

Jenkins's more than three year experience in the CFO role ensures there will be minimal impact on the business, said Graham Shaw, chair of Xero's audit and risk committee.

"We remain satisfied with the integrity of our financial reporting, systems and leadership," Shaw said.

In September, Xero's North American chief executive, Peter Karpas, left the business just six months after joining, after which Xero chief executive Rod Drury said his skills were mismatched to the company's needs at the time, as it sought to build presence in the crucial US market.

BusinessDesk.co.nz

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