Zip Co's pioneering fintech leader Larry Diamond to step down

Zip Co have today announced that its Co-Founder Larry Diamond (pictured) has agreed with the Board that he will step down as a director of Zip and as US Chairman from today, to establish a Family Office and Foundation to further his philanthropic endeavours. He will continue his deep commitment to Zip by remaining available to the Company as an adviser on strategic initiatives going forward.

Zip Chair, Diane Smith-Gander AO said, “We respect Larry’s decision and express our appreciation of his extraordinary achievement, having co-founded Zip with Peter Gray in Australia in 2013. We acknowledge that there is a changing of the guard across the tech sector as companies have matured and their founders are now in a position to realise their next stage of contribution to their domestic and international communities, in Larry’s case through his new Family Office and Foundation.”

Zip Co-Founder, Larry Diamond said, “Now is the right time for me to step back from my day-to-day role at Zip. I’m very proud of what Zip has achieved and have total confidence in the team that will be leading the company to continued great success. I remain a committed shareholder and supporter of Zip and the team.”

Cameron Dart, Founder and CEO of Australian FinTech, added, “Larry was one of the first people I ever met in fintech, back in 2015, when not many people knew what ‘Buy Now Pay Later’ was, or had even heard of the term ‘fintech’. Larry was an inspirational pioneer in the world of fintech over the years and many people have looked up and attempted to emulate him and his work. From the team at Australian FinTech, we wish him well in his future endeavours.”

Zip Group CEO and Managing Director, Cynthia Scott said, “Larry has been an inspirational leader at Zip and has made an enormous contribution in our sector. He has prepared the team well for this natural progression and is stepping down at a time when we have the leadership and broader team executing strongly on a strategy that is delivering for the company and its shareholders. Joe Heck, who joined as our US CEO in July, is doing a terrific job leading the growth of the US business and driving our significant opportunity in that market.”