Rod Drury joins NZX board

Xero founder boosts NZX's focus on innovation and technology

Rod Drury, founder and chief executive of accounting software company Xero, has joined the NZX board.

The appointment of the technology entrepreneur follows the resignation of Fonterra chairman Henry van der Heyden from the board in July "to remove any perceptions of potential conflicts of interest'' with Fonterra's capital restructuring.

However, stock exchange spokeswoman Rowan Macrae said Drury had been approached, not simply as a replacement director, but because "our business is increasingly focused on innovation and technology and there was an experience gap on the board in that area.''

NZX CEO Mark Weldon said technology was important for timely and transparent access to markets here and around the world and "this is the right time for NZX to add a technology expert and entrepreneur''.

Drury's first official role as an NZX director will be to address the final 2009 Global Entrepreneurship Week event at the NZX Centre on Friday.

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