Check Point Software Technologies Ltd. (Nasdaq: CHKP) chairman Marius Nacht is stepping down. Nacht is one of the Israeli cybersecurity companies founders and he has served as chairman since 2015. He said last night that he would not be seeking re-election at the upcoming shareholders meeting.
Nacht recently resigned from Israel's first digital bank, which he set up and which received a license from the Bank of Israel last year. He said that he wanted to focus on major new healthcare and boitech projects.
Nacht will be replaced by Jerry Ungerman, who has been deputy chairman since 2015. Ungerman was a senior executive at Hitachi and other companies before joining Check Point where he has previously served as president and executive vice president.
Nacht said, "27 years after co-founding Check Point, I conclude my role as Chairperson of the Board with great pride and confidence in the company and its crucial contribution to its partners and customers worldwide," says Marius Nacht. "As the world continues to be more connected and the dependence on digital platforms grow - the need for comprehensive and trusted cyber security is more important than ever."
Check Point CEO Gil Shwed, "Since the creation of Check Point in 1993, Marius has been one of the founding fathers of Israel’s leading high-tech industry. I am confident that he will reach this level of success in his current initiatives in the healthcare industry. On behalf of all of us at Check Point, we want to thank Marius for his tremendous contribution to Check Point and to Israel’s economy. Check Point’s Board of Directors has played a key role in the company’s global success, and we are confident that it will continue to do so under Jerry’s leadership."
Check Point has also appointed Guy Gecht as lead independent director.
Check Point's share price was down 0.39% on Nasdaq yesterday at $107.23, giving a market cap of $15.332 billion. Check Point is Israel's most valuable publicly traded company.
Full disclosure: Marius Nacht is the former partner of Anat Agmon, part of Globes controlling shareholder group. The former couple are in the midst of a personal and financial dispute.
Published by Globes, Israel business news - en.globes.co.il - on May 28, 2020
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