Steve Vamos, Xero’s CEO is featured on the cover of the latest edition of Listed@ASX, the official magazine of the Australian Securities Exchange (ASX). In this feature story, Steve and Xero founder, Rod Drury talk through the thinking behind the move to a sole listing on the ASX and the immense strategic opportunity that is ahead for Xero.
Read the full article here or take a look at some of the most interesting quotes from Steve and Rod below:
“It doesn’t take a lot of analysis to appreciate how special Xero is. It’s accomplished a lot in a relatively short time serving firms and providing the technology to help them manage their business and grow,” Steve Vamos.
“Two and a half years ago we were generating $NZ 100 million per annum; now that’s $NZ 100 million a quarter. We’ve pushed towards self-sustaining investment by becoming EBITDA positive; and this year is about driving the business to break-even cash flow,” Rod Drury.
“I can see how we can take all the wonderful attributes of Xero and evolve them to be more global. It’s about taking the complexity that comes with size and making it simple and aligning the organisation to execute on a global scale,” Steve Vamos.
“We wanted to make sure we had the right sort of global investors – the people that would invest in companies like Amazon and Google who are really growing a big platform,” Rod Drury.
“Ultimately, we’re moving beyond accounting and really seeing the potential of what we have to create this platform that connects small business to banks and to suppliers and to their customers,” Steve Vamos.
“I am probably more oriented to execution and operational excellence around that because when I look at the successes and less successful companies I’ve worked with over the years, at the end of the day what differentiates them is open minded leadership that focuses on the detail of executing the strategy. That’s really the focus I’ll bring,” Steve Vamos.