What’s happening with the Xero share price at the end of a strong week?

Xero’s new APAC leadership team will be led by newly appointed managing director, APAC, Joseph Lyons.

| More on:
a woman sits at a computer with a satisfied expression on her face in a white room with greenery outside her window.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • The Xero share price is slipping today but up for the week
  • The company is moving to an APAC regional leadership structure
  • The ASX 200 tech share aims to combine its talent and capabilities to support its growth plans

The Xero Ltd (ASX: XRO) share price has enjoyed a strong run this week, up almost 3% since last Friday’s closing bell.

That’s despite the S&P/ASX 200 Index (ASX: XJO) business and accounting software provider slipping 1.97% in lunchtime trading today, currently at $95.64 a share.

It’s not just the Xero share price in the red.

ASX tech shares are broadly struggling today, with the S&P/ASX All Technology Index (ASX: XTX) down 0.61% at the time of writing compared to a 0.41% gain posted by the ASX 200.

That’s the latest price action.

In an announcement unlikely to be having a major impact on the Xero share price today, the company reported it’s moving to an Asia Pacific (APAC) regional leadership structure.

Why the change to an APAC regional leadership structure?

According to the release, Xero is making the change to combine its talent and capabilities to support its growth plans. The company also said the new leadership structure will strengthen its value to its partners and customers across the region.

Under the new structure, Xero’s leadership across Australia, New Zealand, and Asia will be combined into an Asia Pacific Region.

Commenting on the change, Xero’s chief customer officer Rachael Powell said:

These changes will allow us to better align and share leadership talent and resources across APAC, to ensure we continue to improve Xero’s engagement with our small business customers and accounting and bookkeeping communities.

Xero’s country managers will join an APAC leadership team led by the newly appointed managing director APAC, Joseph Lyons.

Lyons, Xero’s current managing director for Australia and Asia, will now also lead APAC. This will include oversight of New Zealand from October.

“Joseph has excelled in his time as managing director Australia and Asia, and I know he will take on expanded responsibilities in the APAC role with determination and passion, ensuring that we are engaging Xero’s customers and partners,” Powell said.

Xero share price snapshot

The Xero share price is down 35% in 2022. That compares to a year-to-date loss of 25% posted by the All Tech Index.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Technology Shares

A man holds up a block from falling in a row of dominos.
Technology Shares

Why is the Block share price tumbling 5% on Wednesday?

Block shares are erasing this week's gains...

Read more »

A couple sit at a desk with tissues and tears in their eyes while they look at a laptop computer screen with a camera set up in the foreground suggesting they are making a video.
Technology Shares

What’s going so wrong for ASX 200 tech shares on Wednesday?

ASX 200 tech shares are leading the market's losses today. What's going on?

Read more »

Three people gather around a large computer screen where they are looking at something that is captivating their interest with a graphic image of data and digital technology material superimposed to the right hand third of the image.
Technology Shares

Is the Megaport share price a buy following the company’s latest results?

Could Megaport go higher?

Read more »

Three colleagues stare at a computer screen with serious looks on their faces.
Dividend Investing

‘Exciting’ ASX 200 dividend share expected to deliver material returns: expert

Investors seeking income stocks need to do more than simply look at what the companies paid out over the past…

Read more »

Two men laughing while bouncing on bouncy balls
Share Gainers

Why is the BrainChip share price bouncing 6% higher today?

What's causing the BrainChip share price to pop on Tuesday?

Read more »

Man pointing at a blue rising share price graph.
Earnings Results

Megaport share price rises as revenue lifts 40%

Investors appeared to react positively to Megaport's results.

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Technology Shares

Here are 2 excellent ASX tech shares a top broker says are buys

Here are two highly rated ASX tech shares...

Read more »

A cloud with a blue arrow pointing upwards through its middle symbolising a rising asx share price
Share Gainers

Guess which ASX tech share just soared 40% on takeover news

This small-cap ASX tech share has shot up 40% today.

Read more »