Security industry executive Chris Schueler has been named the new CEO of the cybersecurity-focused solution and service provider.

Cybersecurity industry executive Chris Schueler has been named the new CEO of Cyderes as Robert Herjavec (pictured) steps down effective Oct. 1, the company announced.

Cyderes was formed in 2022 through the merger of Herjavec Group and Fishtech Group, and the combined company had been led by Herjavec, founder of Herjavec Group and a “Shark Tank” star. The merger was orchestrated by private equity firm Apax Partners.

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In a video posted on LinkedIn, Herjavec said he is stepping down to spend more time with his family and focus on “Shark Tank.”

Herjavec Group was founded “with just two people” in 2003, Herjavec said in the video—noting that the company he is leaving now employs more than 1,000 and has created “over a $1 billion in value.”

“I’m proud of the positive impact we’ve made on so many lives,” he said. “It’s been an honor to protect some of the world’s largest enterprises from cybercrime.”

Looking ahead, “I’m excited to spend more time with my passions—investing [and] mentoring entrepreneurs through ‘Shark Tank’—and most importantly, with my family,” Herjavec said.

In a news release, Cyderes said that Herjavec will remain a “significant investor” and a board member at the company.

Schueler had most recently served as CEO of Simeio, an identity access management platform vendor, for the past four years. Earlier stints included executive roles at companies including Trustwave and IBM.

Schueler said in the news release that Cyderes is “poised for tremendous global impact” looking ahead and that he plans to focus on innovation within new areas of cybersecurity.

Toronto-based Cyderes is No. 93 on CRN’s Solution Provider 500 for 2024 and has offices in Kansas City, Mo.; Rogers, Ark.; Orlando, Fla.; Reading, U.K.; and Bangalore, India.