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Gil Shvid, CEO of cyber security company Check Point, announced his plans to retire from his role in 2023. In the same year, he received rewards worth $17.9 million, which was a decrease compared to previous years. The data was published in Check Point’s extended report (20F) for 2023. Shvid waived his salary and bonus, except for the minimum required by law, and the main part of his rewards came in the form of capital allocation.

In comparison, Shvid’s rewards cost $22.6 million in 2022 and $26.1 million in 2021. Over the past decade, he has received rewards with a cumulative cost of $314.7 million, most of which were equity-based rewards. Shvid intends to transition to the role of active chairman after 30 years as CEO.

Apart from Shvid, four other senior executives at Check Point received annual bonuses in 2023 at a cost ranging from $1.8 million to $6.2 million each. Shvid currently owns over a quarter of Check Point’s shares valued at almost $4 billion dollars. The company is traded on Nasdaq at a value of $19 billion dollars with no other interested parties besides him

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