Sydney, Australia – 25 November 2024 – Zip Co Limited (ASX: ZIP) announced today that Co-Founder Larry Diamond will step down from his role as Director and US Chairman of the company, effective immediately. This decision comes as Larry focuses on establishing a Family Office and Foundation to pursue his philanthropic goals. However, he will continue to support Zip as an adviser on strategic initiatives going forward.
Key Points:
- Larry Diamond steps down from his role as Director and US Chairman to focus on philanthropic ventures.
- Larry’s contributions to Zip are acknowledged as critical in the company’s growth and success since its founding in 2013.
- Diamond remains a committed shareholder and will continue to support Zip in an advisory capacity.
- Joe Heck, who joined as US CEO in July 2024, is now leading Zip’s growth in the US market and driving opportunities there.
Statements from Key Figures:
Diane Smith-Gander AO, Zip Chair, said:
“We respect Larry’s decision and are deeply grateful for the legacy he has built at Zip. His vision and leadership in co-founding the company with Peter Gray in 2013 have been instrumental in its success. Larry’s next chapter, focusing on his Family Office and Foundation, reflects a broader trend in the tech sector as founders evolve from day-to-day operations to contribute to their communities in new ways.”
Larry Diamond, Co-Founder of Zip, said:
“After careful consideration, I believe now is the right time for me to step back from my day-to-day role at Zip. I’m incredibly proud of everything we’ve achieved, and I have full confidence in the team that will continue to lead Zip to greater heights. I remain a committed shareholder and will continue to support Zip’s success.”
Cynthia Scott, Zip Group CEO, commented:
“Larry has been an inspirational leader and has made a significant impact on the fintech sector. Thanks to his vision, Zip is in a strong position to continue executing on its strategy. With leaders like Joe Heck at the helm of the US business, Zip is well-positioned to drive growth and deliver value for shareholders in the years ahead.”
