MYOB appoints new CEO

Former Managing Director selected for an in-house promotion.

The board of MYOB Limited (ASX: MYO) today appointed Tim Reed as the company's new CEO in an in-house promotion.

The former CEO, Craig Winkler, will become MYOB's first Chief Innovation Executive, a newly-created role.

Reed has been working for MYOB since 2004, and was the company's former Managing Director for Australia.

He will be earning a starting salary of just over $500,000, and will be awarded bonuses if the company meets certain key performance indicators.