​Xero hires a new Australian managing director

Trent Innes will replace Chris Ridd in the role of Xero Australia managing director when Ridd departs from the position after five years at the end of March.

Xero has announced the resignation of Australian managing director Chris Ridd after five years in the role, and has appointed Trent Innes to the position.

Ridd is expected to step down at the end of March, but will remain as an adviser to the company for the next 12 months.

Innes will take on the new role after spending nearly three years at Xero Australia as national sales director. Before joining Xero, Innes was the national sales manager of the Microsoft Business Group in Australia, managing the ERP and CRM business. He is also a qualified certified practicing accountant.

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Trent Innes, newly-appointed managing director of Xero Australia. (Image: Supplied)

Speaking about his departure and the appointment of Innes, Ridd said: "It's rare for a small business software company to reach the heights that Xero has, which speaks to the determination and experience of the entire Xero team to change the way that small businesses manage their finances.

"Having been in the driver's seat in Australia for the past several years, I know I'm handing the wheel to someone with the right experience and gusto to accelerate Xero's growth further in the future. Trent's been instrumental to Australia's growth in the past three years, and will continue to be so in future."

The company said it plans to expand the executive team in Australia over the next 12 months.

Last November, the cloud account company reported that it had experienced a 65 percent year-on-year growth in annualised committed monthly revenue for the half year ended September 30, 2015.

At the end of the half, Xero had 593,000 paying subscribers globally, up 60 percent from September 30, 2014. At the time, the company reported that 79 percent of subscriber growth occurred in markets outside of Australia and New Zealand, while in the US it was 114 percent, to 47,000 subscribers.