Xero founder Rod Drury returns New Zealander of the Year award amid misconduct claims
Sir Rod Drury, founder of New Zealand's global accounting-software firm Xero, has returned his 2024 New Zealander of the Year award following workplace-misconduct allegations against him. The move pre-empts a formal review by the awarding committee. Xero shares dropped 1.8% on the Australian Securities Exchange.
Sir Rod Drury, regarded as one of New Zealand's most successful tech founders, said he was returning his 2024 New Zealander of the Year title. In a written statement, Drury said 'personal failings deserve more time and reflection than a public honour.' The award committee had opened a review after three former Xero staff members jointly raised allegations.
Drury left Xero, which he founded, several years ago, so the claims do not concern current management. Still, investors warn that brand and reputation could be affected. Xero shares are not traded on the New Zealand Exchange, but they fell 1.8% during the day on the Australian Securities Exchange.
The business community is divided over the move. Some directors called it 'a good example of taking responsibility,' while others said it 'delays real accountability.' The New Zealander of the Year committee is expected to issue its formal statement in the coming days.
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