Jenkins' LinkedIn profile shows he became CFO of the low-cost cloud software company in 2011. In the profile, he described the role as "a dream job." Meanwhile, Andrew Lark, who has served as chief marketing officer since November, had his responsibilities immediately expanded to cover all go-to-market activities including sales, marketing, education and partnering.

CEO Rod Drury said Xero will not hire a new COO. "We're good. Just part of planned transition with new CFO and Andy our CMO fully up to speed with the business." to cover all go-to-market activities including sales, marketing, education and partnering.

Jenkins had stepped into the COO position with Jeffries' hiring in January.