Innes, Xero Australia national sales director for the past three years, will take over as managing director at the end of the New Zealand-based Xero’s financial year on 31 March.
Ridd, who is stepping down from the top job, has been MD for Australia for five years and will continue as an advisor to the Xero executive team throughout 2016.
Andy Lark, Chief Marketing and Business Office, said between now and the end of the financial year, there will be a “comprehensive transition to have strong continuity of leadership”.
“Chris has led Xero’s extraordinary growth and success in the Australian market, and has helped established Xero as the largest cloud accounting software in this market,” Lark said.
“We sincerely thank him for his significant contribution and are thrilled to have his continued involvement in the business.
“During his time at Xero, Chris built a strong and deep leadership team in Australia, and as proof of Xero Australia’s strong bench, we are delighted to announce Trent Innes as Managing Director following an extensive global search.”
Lark said Innes had significant management experience, having worked alongside Ridd for the past three years as National Sales Director for Xero Australia.
Before joining Xero, Innes was the National Sales Manager of the Microsoft Business Group in Australia, managing the ERP and CRM business. He is a qualified Certified Practicing Accountant (CPA).
Commenting on the decision to step down from the top job, Ridd said: “It’s been an awesome ride, seeing Xero go from a plucky upstart from Wellington to a global force taking on the world’s largest accounting software platforms.
“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.”