Xero’s new APAC leadership team will be led by newly appointed managing director, APAC, Joseph Lyons.
The post What’s happening with the Xero share price at the end of a strong week? appeared first on The Motley Fool Australia. –
The Xero Ltd (ASX: XRO) share price has enjoyed a strong run this week, up almost 3% since last Fridayâs closing bell.
Thatâs despite the S&P/ASX 200 Index (ASX: XJO) business and accounting software provider slipping 1.97% in lunchtime trading today, currently at $95.64 a share.
Itâs not just the Xero share price in the red.
Thatâs the latest price action.
In an announcement unlikely to be having a major impact on the Xero share price today, the company reported itâs moving to an Asia Pacific (APAC) regional leadership structure.
Why the change to an APAC regional leadership structure?
According to the release, Xero is making the change to combine its talent and capabilities to support its growth plans. The company also said the new leadership structure will strengthen its value to its partners and customers across the region.
Under the new structure, Xeroâs leadership across Australia, New Zealand, and Asia will be combined into an Asia Pacific Region.
Commenting on the change, Xeroâs chief customer officer Rachael Powell said:
These changes will allow us to better align and share leadership talent and resources across APAC, to ensure we continue to improve Xeroâs engagement with our small business customers and accounting and bookkeeping communities.
Xeroâs country managers will join an APAC leadership team led by the newly appointed managing director APAC, Joseph Lyons.
Lyons, Xeroâs current managing director for Australia and Asia, will now also lead APAC. This will include oversight of New Zealand from October.
âJoseph has excelled in his time as managing director Australia and Asia, and I know he will take on expanded responsibilities in the APAC role with determination and passion, ensuring that we are engaging Xeroâs customers and partners,â Powell said.
Xero share price snapshot
The Xero share price is down 35% in 2022. That compares to a year-to-date loss of 25% posted by the All Tech Index.
The post Whatâs happening with the Xero share price at the end of a strong week? appeared first on The Motley Fool Australia.
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.