Rod Drury, a technology entrepreneur from New Zealand, gained significant recognition for his involvement with Xero, a renowned accounting software company. Drury, who established the company in 2006, served as Xero’s CEO until 2018.
Full Name- Rodney Kenneth Drury
Birthplace- Wellington, New Zealand
Profession- Technology entrepreneur
Spouse- Anna Margaret Clare
Nationality- New Zealand
Drury, who hails from Hawke’s Bay, comes from humble beginnings as the offspring of a tradesman and an executive assistant. It is mentioned that he has Māori ancestry, with his father’s lineage being traced back to Ngāi Tahu.
Rod Drury was previously married to Anna Margaret Clare and has two children from his initial union. He currently resides in a privately-owned residence located in Havelock North, within the Hawke’s Bay region. Drury has expressed his fondness for engaging in activities such as surfing, skateboarding, and mountain biking during his leisure hours.
Drury went to Napier Boys’ High School, where he cultivated a passion for computer programming. Following that, he pursued a degree in commerce and administration at Victoria University of Wellington. After completing his studies, he joined Arthur Young, an accounting firm that later transformed into Ernst & Young in 1989.
During his early twenties, Drury faced severe difficulties with stuttering, making it challenging for him to communicate over the phone. However, he triumphed over this obstacle by undertaking a smooth speech course around the age of 27. He emphasizes that conquering his stutter played a vital role in the establishment of the Xero business.
In 1995, Rodney Kenneth Drury founded Glazier Systems, a software development and consulting company based in New Zealand. Glazier Systems was later acquired by Advantage Group in 1999 for approximately $7.5 million, which eventually became Intergen. Following this, Drury co-founded Context Connect and went on to establish AfterMail, where he served as CEO. AfterMail was later acquired by Quest Software, which was subsequently acquired by Francisco Partners and Elliott Management Corporation.
In July 2006, Drury founded Xero, a publicly listed accounting software company that operates on a software as a service (SaaS) model. He assumed the role of CEO at Xero. Additionally, in October 2007, Drury served as a judge for the New Zealand Open Source Awards.
Drury was also involved in co-founding Pacific Fibre, a company aimed at building an internet cable connecting Australia, New Zealand, and the United States. Although the project had an estimated cost of around $400 million, it ultimately did not succeed.
In November 2017, Drury sold $95 million worth of shares in Xero, retaining a 13% stake in the company. He stated that the proceeds from the sale would support his future philanthropic and social endeavors. Drury stepped down as CEO of Xero in March 2018 but continued his involvement with the company as a non-executive director.
Drury received the prestigious “Entrepreneur of the Year” award from Hi-Tech New Zealand in both 2006 and 2007. Additionally, in August 2008, he was honored with the title of Honorary Fellow of the New Zealand Computer Society (HFNZCS) at the 2008 NZ Computerworld Excellence Awards.
This distinction made him the 21st person to receive this title in the Society’s 48-year history. Furthermore, in 2012, he was recognized as the NZ Herald Business Leader of the Year, and in 2013, he was named the Ernst and Young Entrepreneur of the Year.
Net Worth 2023
Rod Drury, the founder of Xero and recently recognized as the ninth wealthiest individual in New Zealand by the NBR, unveiled the Kokomo One, a Sunreef 80 Power catamaran, on the Waitematā Harbour. This grand event was graced by esteemed VIP guests. With an estimated fortune of $1.2 billion, Drury’s achievements are truly impressive.
Latest News About Rod Drury
Rod Drury, the founder of Xero, is stepping down from the board of the ASX-listed cloud accounting company after serving for seventeen years. Although he will no longer be a director, Drury will remain involved with the company as an advisor to the board and CEO.
Drury, who initially founded Xero in New Zealand in 2006, played a crucial role in leading the company to its current status as a global business. Xero’s Chair, David Thodey, acknowledged Drury’s visionary leadership and his contribution to the substantial growth of the company.
Over the years, Drury assisted in two CEO transitions, including his own in 2018 and the recent appointment of Sukhinder Singh Cassidy in 2022. The board expressed gratitude for Drury’s significant contributions and expressed delight in his decision to continue his involvement with Xero in an advisory capacity.
Drury, reflecting on his time with Xero, expressed pride in the company and its team and emphasized the ongoing potential for innovation and growth in the global small business economy. Additionally, Xero announced the appointment of Anjali Joshi as an independent non-executive director and the retirement of non-executive director Lee Hatton. Joshi, with extensive experience in technology and product management, expressed enthusiasm about joining Xero’s board and contributing to its significant potential.
Hatton expressed confidence in the board and leadership team’s ability to uphold Xero’s purpose going forward.