Zip US leadership transition: Rory Herriman appointed interim CEO
Zip Co Limited (ASX: ZIP) announced on 16 October 2026 that Joe Heck has resigned as CEO of Zip US. Rory Herriman, currently Zip’s US Chief Technology and Operations Officer, has been appointed President and interim CEO of Zip US, effective immediately.
The announcement does not disclose a reason for Mr Heck’s resignation. It also does not say whether a permanent CEO search has begun.
The change takes effect straight away, and the company frames it as continuity rather than disruption.
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Who is Rory Herriman?
Mr Herriman is an internal appointment. According to the announcement, his background includes:
- A key member of the Zip US leadership team for almost three years
- Driving the development of the US product, technology and operations
- 30 years’ experience in financial services and fintech, including consumer lending and payments
Because he already oversees product, technology and operations in the US, the appointment suggests the US strategy continues without a reset.
Orderly handover arrangements
Cynthia Scott, US-based Zip Group CEO and Managing Director, will work closely with the US leadership team to ensure a smooth transition. Mr Heck will be available to advise Zip until early next year to support an orderly transition.
| Item | Detail |
|---|---|
| Departing CEO | Joe Heck (resigned as CEO of Zip US) |
| Incoming leader | Rory Herriman |
| Title | President and interim CEO of Zip US |
| Effective date | Immediately, announced 16 October 2026 |
| Handover support | Cynthia Scott to work closely with the US leadership team; Mr Heck available to advise until early next year |
Why leadership continuity matters for Zip investors
Zip operates in Australia and the United States, offering point-of-sale credit and digital payment services. Its network connects millions of customers with tens of thousands of merchants.
A CEO change at one of its two operating markets naturally draws investor attention. An insider appointment, combined with a defined handover period, points toward stability in how the US business is run.
The US business also carries fresh funding support, with a AAA rated US funding facility of US$300 million priced in August to lower borrowing costs and broaden the investor base.
The US weighting matters because the division generates roughly 80% of cash earnings across Zip’s divisions, so leadership changes there carry more weight than they would in the Australian business.
Cynthia Scott, Zip Group CEO and Managing Director
“Rory is a key member of our leadership team with deep knowledge of our business, our customers, and our product and AI strategy. His appointment ensures continuity as we continue to deliver on our significant growth opportunity.”
Ms Scott also thanked Mr Heck for his contribution to the growth of the US business “over the past two years”.
What’s next: 1Q FY27 results on 23 October 2026
Zip’s 1Q FY27 results will be announced to the market on 23 October 2026. It is the next scheduled update where investors may hear more on the US business.
The company said it is focused on executing its strategy and delivering for its customers, merchants, team members and shareholders.
Mark the date: 23 October 2026.
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