Check Point CEO Announces Retirement After 30 Years, Details of Exit and Company’s Growth

Gil Shvid’s salary cost was still substantial at just under 18 million dollars.

Gil Shvid, CEO of Check Point, announced his intention to retire from his position after 30 years of service. In 2023, he received a total of $17.9 million in rewards, which was a decrease compared to previous years. The details of these rewards were detailed in Check Point’s extended report (20F) for the year. Over the past decade, Shvid has received rewards with a cumulative cost of over $314.7 million, mostly in equity form.

Shvid has consistently waived his salary and bonuses except for the minimum wage required by law. He will transition to the role of active chairman after serving as CEO for 30 years. Four other senior executives at Check Point also received annual bonuses in 2023, ranging from $1.8 million to $6.2 million each.

Currently, Shvid owns over a quarter of Check Point’s shares, valued at almost $4.9 billion dollars. There is currently no other interested party in the company besides him. The company’s stock is trading near record levels on Nasdaq, valuing Check Point at over $19 billion dollars.

The report also revealed that the number of employees at Check Point increased by 7% in the past year, reaching over 6,450 employees. A large percentage of these employees are engaged in marketing, sales and business development as well as research and development activities. Employees exercised options with an intrinsic value of over $20 million in 2023 and held around 5.9 million exercisable options at the end of the year .

Despite challenges in global markets, Check Point remains a strong company with a dedicated employee base and leadership team

Gil Shvid, CEO of Check Point, announced his intention to retire from his position after 30 years of service. In 2023, he received a total of $17.9 million in rewards, which was a decrease compared to previous years. The details of these rewards were detailed in Check Point’s extended report (20F) for the year. Over…

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