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Thread: Xro - xero

  1. #7121
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    Glad I took XRO's decision to exit NZX as a signal to take my gains and exit last year. My related decision to boost my ATM stake has paid off nicely.

    Am still a XRO fan, and hope it continues to perform for holders. Going to be interesting to watch the new CEO from afar.

  2. #7122
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    Quote Originally Posted by Raz View Post
    hmmm If I was the founder and the growth story was drying up.... can't cut it in the US and here comes the competition ....I'd prefer to move on as well..
    Will be interesting to see whether he takes another payday selldown, with around $100m value (from memory) presently locked up in shares.

  3. #7123
    Senior Member Toasty's Avatar
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    Quote Originally Posted by Baa_Baa View Post
    Will be interesting to see whether he takes another payday selldown, with around $100m value (from memory) presently locked up in shares.
    I think its more like $500 to $600 million. He still holds around 15 million shares I think.

  4. #7124
    ShareTrader Legend bull....'s Avatar
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    asx got xero as the sole listing and then got rid of drury? and put an aussie in charge .....
    one step ahead of the herd

  5. #7125
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    Quote Originally Posted by Toasty View Post
    I think its more like $500 to $600 million. He still holds around 15 million shares I think.
    Yeah, my bad shouldn't post while in a rush: I think it's still 12.8 percent and 17.7 million shares @ $31.29 Aus today = ~NZD$592m. Must be tempting to take home the big moola and leave a cool $100m or so in the game. Could do a lot of good philanthropic stuff with $500m. Gotta take your hat off to Rod, he's smashed it out of the park with XRO in terms of building a personal fortune, only pity really is that he didn't get to see and claim profitability while CEO. Not such a big deal in the scheme of things I suppose. Good luck to him.

  6. #7126
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    So Rod has realised that he does not have skillset required to drive the company's ongoing transformation into a multinational tech giant. Hence stepping aside and do what he loves and that is to develop the product... ect. Rod said "While working with Steve that became apparent and I started realising all the things I didn't know. I had to make sure we were making the big decisions now to create long-term shareholder value, while I get to do the bits I love." He also admitted having working with the new elected CEO he came to realised that he hasn't got what it takes to take this company beyond the next two years.

    It is hard to think that Rod is no longer the CEO but yet it is not as I have always thought at some stage he would need to step aside and let someone else to have ago. 11 plus years in the same position of CEO in quite long these days. Also nice to read about he has no intention of taking on any external board positions at this stage and will not be selling down his significant shareholding of 12.8 per cent.

  7. #7127
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    NZSA is not keen on Rod's replacement and his other directorships. Valid concerns IMHO. Here's what NZSA is saying.

    "Many of you will have seen that Rod Drury is stepping down and Steve Vamos has been appointed the new CEO of Xero, effective 1 April, 2018.
    Mr Vamos has indicated that he intends to continue with his directorships on both Fletcher Building and Telstra Corporation as well as taking on this new role.
    While NZSA has no questions about his abilities, it is concerned that Mr Vamos may be unable to properly discharge his responsibilities to all three complex roles. We are not alone in this view. We note that:

    • Xero is on a strong growth path in many different countries, likely to require a large amount of travel on top of the usual heavy CEO workload.

    • Fletcher Building has a major task ahead of it to not only navigate through the current difficulties, but also to re-build confidence in the company’s governance. Both tasks will be demanding and much more time consuming than most directorships, especially as the Fletcher board is relatively small.

    • Telstra is a very large Australian domiciled telecommunications company with all the challenges that entails. We note that Mr Vamos intends to remain Australian based. The Telstra board has ten members. In our view, these factors mean the Telstra position is the less onerous.

    NZSA has a long standing policy guideline that, in order to allow them to adequately discharge their executive functions, CEO’s should hold only one unrelated directorship.
    In our view, Mr Vamos should resign his Fletcher Building directorship soon after taking up the Xero role. A short delay may be acceptable to allow the Fletcher board time to appoint a replacement.
    Should Mr Vamos choose to continue with all three roles, the Association intends to vote against his re-appointment to the Fletcher board at the first opportunity. We expect this would get wide support, as most institutional proxy advisors hold similar views to NZSA in regard to CEO/Director workload."

  8. #7128
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    XRO in the ASX 100, Vocus and Fairfax drop out.

  9. #7129
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    Quote Originally Posted by The BOWMAN View Post
    Finally, XRO is out of NZX, washing clean those speculative investors who bought in early, sitting on a profit, guessing for a speculative correction. Without the noise created from such shareholders, I think it will steadily moving upwards towards ASX200 in a couple of months and then ASX50 in a year or two.
    Much faster and larger first step than I predicted at the end of Jan. With this speed, probably ASX50 after the May financial report.

  10. #7130
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    There'll be one or two local investors regretting they sold before the move to the ASX.

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