Check Point Software has appointed Team 8’s Nadav Zafrir as its new CEO and said founder and current CEO Gil Shwed will transition to the executive chairman’s role. Zafrir will take up his role in December.
For the past deacde, Zafrir has been a co-founder and managing partner at venture creation and venture capital fund Team8. He built, invested and chaired 17 cyber security companies in addition to dozens of other technology companies he has consulted and mentored. Since 2019, he has being chairman of the board of SolarEdge Technologies, a Nasdaq-traded smart energy company.
“Nadav has been a key leader in the global cyber security ecosystem for over a decade,” said Shwed. “He established and led multiple cyber security companies and partnered with the world’s largest security vendors.”
“Check Point is uniquely positioned to lead development of the next stage of security for our complex world,” said Zafrir. “I look forward to working with the company’s accomplished leadership team and Gil to write the next chapter in Check Point’s growth.”
The appointment coincided with the release of Check Point’s second-quarter results, which Shwed called “outstanding.” Key takeouts include:
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Total revenues of USD627 million, a 7% increase year over year;
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Security subscription revenues of USD272 million, a 14% increase year over year;
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GAAP operating income of USD209 million, representing 33% of revenues
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Non-GAAP operating income of USD265 million, representing 42% of revenues
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GAAP earnings per share of USD1.74, a 3% increase year over year; and
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Non-GAAP earnings per share of USD2.17, an 8% increase year over year.
