Source: Birgit Korber via Alamy Stock Photo

Check Point CEO Gil Shwed has announced his intention to step down from his role after 30 years at the helm of the cybersecurity vendor.

In the company's latest financial statement, Shwed said it was the right time to focus on the evolution of the Israeli security vendor and its next stage, and that he intends to transition into the role of executive chairman "charting the future of Check Point and the cyber security market."

"We're initiating the succession process to hire a new CEO, and once completed I will transition into my new position as executive chairman. I'm excited to enter 2024 with a great technology pipeline, and a fully energized global team that is ready to deliver a bright and secure future for our customers," he said.

Co-founded in 1993 by Shwed and Marius Nacht and Shlomo Kramer — who are no longer with the company — Check Point's initial technology was built on the concept of stateful inspection. This became the foundation for the company's first core product, FireWall-1.

Check Point rolled out its software blade architecture in 2009, and executed a series of acquisitions including security service edge vendor Perimeter 81 in 2023.