Xero shares plunge on CEO Steve Vamos’ imminent departure

CEO Steve Vamos with his replacement, Sukhinder Singh Cassidy and chair David Thodey. (Image: Xero)

Fri, 11 Nov 2022

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...

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