Check Point, an Israeli cybersecurity vendor, has announced that CEO Gil Shwed will be stepping down from his role after 30 years at the helm of the company. In a recent financial statement, Shwed stated that it was the right time to focus on the evolution of the company and its next stage, indicating his intention to transition into the role of executive chairman to “chart the future of Check Point and the cyber security market.”
According to Shwed, the company has initiated the succession process to hire a new CEO, and once completed, he will transition into his new position as executive chairman. Shwed expressed excitement about entering 2024 with a strong technology pipeline and an energized global team ready to deliver a secure future for customers.
Check Point was co-founded in 1993 by Shwed, Marius Nacht, and Shlomo Kramer, but Nacht and Kramer are no longer with the company. The company’s initial technology was built on the concept of stateful inspection, which became the foundation for its core product, FireWall-1.
Over the years, Check Point has implemented its software blade architecture and executed a series of acquisitions, including the acquisition of security service edge vendor Perimeter 81 in 2023.
Shwed’s announcement comes at a pivotal time for Check Point as it looks to maintain and enhance its position in the cybersecurity market. The company will now be tasked with finding a suitable replacement for Shwed to lead Check Point into the next phase of its development.
Shwed’s decision to transition into the role of executive chairman reflects his confidence in the company’s future and his desire to continue contributing to its success in a different capacity. As Check Point evolves and adapts to the changing cybersecurity landscape, Shwed’s experience and leadership will continue to play a critical role in shaping the company’s direction.
As Check Point embarks on this transition, industry observers will be watching closely to see who will fill the position of CEO and how the company will continue to innovate and grow under new leadership. With a storied history and a track record of success, Check Point is poised to navigate this change with a sense of purpose and determination.
The cybersecurity market is a highly competitive and constantly evolving industry, and as Check Point looks to the future, the company’s ability to stay ahead of the curve will be paramount. With Shwed’s continued involvement as executive chairman, Check Point can continue to benefit from his expertise and guidance as it enters this new chapter in its history.