'Shark Tank' makes casting announcement as Mark Cuban prepares to exit

"Shark Tank" is introducing a new shark this season.

Daniel Lubetzky, founder of Kind Snacks, will officially join the panel of full-time sharks for Season 16 of the ABC reality TV series, the network announced Sept. 18.

Lubetzky, who's been a frequent guest on the business competition, will take a permanent seat alongside longtime sharks and fellow entrepreneurs Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O’Leary when Season 16 premieres Oct. 18.

"As a guest Shark for the past five seasons, Daniel has earned his spot with the Sharks,” executive producer Clay Newbill said in a statement. “He is a self-made founder of a multibillion-dollar company, has all the qualities we look for in a Shark, and possesses an authentic desire to help entrepreneurs grow their businesses. Daniel is a welcome addition to our panel, and we look forward to working with him for many seasons to come.”

Entrepreneurs who are scheduled to appear as guest sharks in Season 16 include Todd Graves, owner and founder of Raising Cane’s; Jamie Kern Lima, co-founder of IT Cosmetics; Rashaun Williams, venture capitalist and Atlanta Falcons limited partner; and returning guest shark Kendra Scott, philanthropist and founder of the Kendra Scott lifestyle brand.

News of Lubetzky's promotion comes on the heels of Cuban's announcement last year that Season 16 of "Shark Tank" will be his last.

The business mogul and Dallas Mavericks co-owner shared the news during a November 2023 appearance on the Showtime podcast “All the Smoke."

Cuban first appeared on the show as a guest investor during its second season. He was promoted to a full-time shark in Season 3 and has remained on the panel ever since.

Cuban told "All the Smoke" hosts Matt Barnes and Stephen Jackson that he liked "Shark Tank" because "it sends the message the American Dream is alive and well.”

“I feel like in doing ‘Shark Tank’ all these years, we’ve trained ... multiple generations of entrepreneurs that if somebody can come from Iowa or Sacramento or wherever, and show up on the carpet of ‘Shark Tank’ and show their business and get a deal, that’s going to inspire generations of kids," he said.

Season 16 of “Shark Tank” premieres Oct. 18 at 8 p.m. ET on ABC and the next day on Hulu.

This article was originally published on TODAY.com