Ann: Zip US Leadership Update, page-62

Overall, a good move.

The company is transitioning from its startup phase to the scale-up phase. Larry Diamond, the co-founder of ZIP, is stepping down as US CEO to become the US Chairman. Larry's been the driving force behind ZIP's ambitious global expansions, but let’s be honest—his approach nearly drove the company, and shareholder money, into a death spiral.

Time for more professional management like Cythia. Bringing in Joe Heck as the new US CEO and Kevin Moss as an independent Non-Executive Director is a smart move. Joe has a proven track record in consumer lending, and Kevin’s expertise in credit and risk management is exactly what ZIP needs right now. This leadership change is a clear shift towards a more stable and strategic growth approach. This isn't just about expanding recklessly anymore; it’s about scaling up sustainably and smartly. The company’s recent moves indicate a focus on financial stability and long-term success. This new phase is all about responsible growth and maximizing shareholder value.