WELLINGTON (Reuters) - New Zealand accounting software firm Xero Ltd said on Thursday that its chairman, Chris Liddell, would resign after accepting a position as an assistant to U.S. president-elect Donald Trump.
The company has appointed Graham Smith, its current director, to replace Liddell.
Xero said Liddell had informed them that his new job required him to step down as chairman, a position he held for the past three years.
"We wish him all the best in his exciting new role," Xero Chief Executive Officer Rod Drury said in a written statement.
Several New Zealand customers had said on social media this week that they were considering cancelling their subscriptions due to Liddell's appointment, announced by Trump on Wednesday.
Drury had responded in local media that the company had no political view.
The changes will take place on Jan. 20, the day of Trump's inauguration.
Shares in Xero were trading up 1.4 percent in the wake of the announcement, just below their 8-week high.
Xero dominates the market for accounting software for small businesses in New Zealand, where it is headquartered, as well as in Britain. It is currently trying to grow its presence in the United States.