Check Point Chooses New CEO to Replace Gil Shwed

After several months of searching, Check Point Software Technologies has chosen its new CEO to replace Gil Shwed in December.

Team8’s Nadav Zafrir will become Check Point’s new CEO when Shwed, also the company’s founder, steps down and becomes executive chairman.

Check Point announced the new CEO along with its earnings for its second quarter of fiscal 2024. In January, Shwed announced he was leaving his role as CEO to take on the new position.

Francisco Criado, Check Point’s vice president of global partner ecosystems, said Zafrir's appointment "marks a pivotal moment" for his company.

"His unparalleled experience in cybersecurity is cultivated from over a decade at Team8, where he led numerous cyber defense companies, plus his experience and strategic leadership in the Israeli armed forces, and his role as chairman of SolarEdge," he said. "He is uniquely positioned to redefine our trajectory. Nadav’s entrepreneurial DNA and visionary outlook will propel us into a new era of innovation and global influence in cybersecurity. His stature as one of the most respected figures within the global security community will strengthen our partnerships and expand our channel ecosystem worldwide."

Shwed has been Check Point’s CEO for 30 years and also founded the company.

Related:Gil Shwed Stepping Down as Check Point's CEO

“We are concluding a thorough CEO search process after examining candidates from around the world and found the perfect individual,” Shwed said. “Nadav has been a key leader in the global cybersecurity ecosystem for over a decade. Having lived in New York and Tel Aviv, he became one of the most respected figures within the global CISO community. He established and led multiple cybersecurity companies and partnered with the world’s largest security vendors. I admire his achievements and leadership skills, and I am excited about his appointment, and believe he is the right leader to take Check Point to new heights.”

Upcoming Check Point CEO’s Background

For the past 10 years, Zafrir has been a co-founder and managing partner at Team8, a global venture creation and venture capital fund. Team8 establishes and invests in companies focused on cybersecurity, data and AI, fintech and digital health. He built, invested and chaired 17 cybersecurity companies in addition to dozens of other technology companies he has consulted and mentored.

Zafrir will assume the CEO role and join Check Point’s board of directors upon shareholder approval.

“I am honored to join Check Point, a pioneer that shaped modern cybersecurity, and a hotbed for entrepreneurship,” he said. “Over the last decade, I’ve collaborated with global cybersecurity leaders and teams, witnessing firsthand their incredible efforts to safeguard global networks from sophisticated attackers. I am in awe of the work of security practitioners, and their organizations deserve the best security. In our turbulent world, on the brink of another acceleration point as AI redefines our lives, cutting-edge cybersecurity is more critical than ever. Check Point is uniquely positioned to lead development of the next stage of security for our complex world. I look forward to working with the company’s accomplished leadership team and Gil to write the next chapter in Check Point’s growth.”

Related:CPX 2024: Check Point Leans Into AI for Threat Prevention

For its second quarter, Check Point reported $627 million in revenue compared to $589 million for the same quarter in 2023, a 7% year-over-year increase. Profit totaled $197 million compared to $202 million in the year-ago quarter.

“Check Point delivered an outstanding second quarter as customers continued to embrace the AI-driven, cloud-delivered Infinity Platform to achieve the highest levels of security,” Shwed said. “The success of Infinity during the quarter was underscored by its double-digit growth and significant deals with Fortune Global 500 organizations.”