Xero CEO Addresses Customers Amid Allegations Against Founder Sir Rod Drury
Xero chief executive Sukhinder Singh Cassidy addressed customers and staff after allegations against company founder Sir Rod Drury were reported by New Zealand media, RNZ said. Drury, who stepped down as chief executive in 2018 and remains a non-executive director, has been withdrawn from upcoming speaking engagements.
Xero chief executive Sukhinder Singh Cassidy has spoken publicly after allegations against company founder Sir Rod Drury were reported by New Zealand media outlets over the weekend, RNZ said. Cassidy told customers and staff that the cloud-accounting company takes the allegations seriously and is following its established governance processes. The full nature of the allegations was not detailed in the broadcaster's report.
Drury, who founded Xero in 2006 and led the company until he stepped down as chief executive in 2018, remains a non-executive director and is one of New Zealand's most prominent technology entrepreneurs. He has been withdrawn from a scheduled speaking engagement at a major New Zealand business event, organisers said, and has not commented publicly on the allegations. Drury was knighted for services to business and information technology.
Xero shares listed in Sydney slipped on Tuesday as investors awaited further information. Cassidy said the board had been informed and would respond as needed once any investigation concluded. New Zealand commentators noted that the episode lands at a sensitive time for the country's technology sector, which has counted Xero as one of its highest-profile success stories.
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