Robert Herjavec Leaving Dragons’ Den

Dragon Robert Herjavec is not returning for the next season of the CBC business-based reality show "Dragons' Den."

According to the QMI Agency: "Contacted by email, Herjavec was upbeat. 'I have nothing but the most positive things to say about Dragons’ Den – it was a wonderful experience for me – but it was time for me to move on,' Herjavec wrote. 'I believe life is about moving to the next challenge. As I always tell entrepreneurs, if you are not growing you are dying. It was time for me to grow.'"

He's not the first dragon to step down from the coveted position – about a year ago W. Brett Wilson left "Dragons' Den" only to be replaced by Bruce Croxon. An official press release released late last night by the network stated that a search for a new dragon to replace Herjavec is already underway, with auditions being held.

Herjavec is the son of Croatian immigrants and earned his incredible wealth by overcoming many odds. At the height of the craze he launched the country's first technology company, BRAK systems, which became Canada's top Internet security software provider and was worth a reported $100-hundred million dollars. He sold his company to AT&T in 2000 and then helped negotiate the sale of another technology company to Nokia for $225 million dollars. Today he heads The Herjavec Group, listed as one of Canada's leading and fastest growing IT security and infrastructure integration firms.

Although Herjavec will no longer be a dragon, he did say that he would remain as one of the main judges on the American-based business reality show "Shark Tank."