Xero shares plunge on CEO Steve Vamos’ imminent departure

Xero shares plunge on CEO Steve Vamos’ imminent departure
CEO Steve Vamos with his replacement, Sukhinder Singh Cassidy and chair David Thodey. (Image: Xero)
Jenny Ruth
Investors appeared spooked by the news that Xero chief executive Steve Vamos will leave the company next February after nearly five years in the top job, although he will still be available to advise his successor through to the end of May.Xero shares, which trade only on ASX, were down as much as 13.5%, or A$9.77, to A$62.85 on Thursday but had recovered a little late in the NZ afternoon to A$65.07.That was on a day when stock markets around the world were falling, although not as much – the US S&P500 Index shed more than 2% while th...

More Infrastructure

‘High risk’ Northland project attracting global interest
Infrastructure

‘High risk’ Northland project attracting global interest

NZTA is due to request bids from up to three shortlisted consortiums in June.

Oliver Lewis 17 Apr 2025
The $20b plan to improve our old, risk-prone hospitals
Infrastructure

The $20b plan to improve our old, risk-prone hospitals

Simeon Brown released the long-awaited plan and details of a new Dunedin Hospital tender.

Oliver Lewis 16 Apr 2025
From trainee priest to ferry finder chair
Infrastructure

From trainee priest to ferry finder chair

Is there anything Chris Mackenzie hasn't done?

Oliver Lewis 15 Apr 2025
Treasury unhappy with tweaks to $1b transport fund
Infrastructure

Treasury unhappy with tweaks to $1b transport fund

The money was meant to bring forward a second wave of roads of national significance. 

Oliver Lewis 14 Apr 2025