Darktrace CEO and co-founder Poppy Gustafsson leaves
- Darktrace uses AI in software to protect companies against cyber threats
- Gustafsson’s successor is Darktrace’s chief operating officer Jill Popelka
The CEO and co-founder of Darktrace is leaving the cybersecurity giant in preparation for its planned acquisition by Thoma Bravo.
Poppy Gustafsson is stepping down with immediate effect, 11 years after founding Darktrace. Darktrace uses artificial intelligence in software to protect organizations from cyber threats.
Her successor is Jill Popelka, Chief Operating Officer of Darktrace, who joined the company in January as a non-executive director and took up her current role in June.
Departure: Darktrace CEO and co-founder Poppy Gustafsson (pictured) is leaving the cybersecurity giant in preparation for its planned acquisition by Thoma Bravo
Prior to that, she held senior positions at professional services firm Accenture, Snapchat developer Snap and enterprise cloud business SAP.
Gustafsson said she was “tremendously proud of everything” Darktrace had achieved since its founding, but that this was “the right time to hand over the reins.”
In April, Darktrace agreed to be acquired for £4.3 billion by Thoma Bravo, a US private equity firm with a long history of investing in the software sector.
The company expects to receive final regulatory approval for the deal by September 28 and seek UK court approval shortly thereafter.
Critics say the deal is another major blow to the London market, which has lost several major companies to foreign buyers in recent years.
Companies listed in the UK are often seen as easy targets for takeovers, due to their perceived undervaluation relative to global competitors and the devaluation of the pound since the Brexit referendum.
Gordon Hurst, Chairman of Darktrace, said: ‘Poppy is a remarkable leader who has grown and nurtured one of the UK’s proudest technology success stories.
‘Under Poppy’s leadership, the company has transformed from a promising collaboration of AI and intelligence experts into a fast-growing global leader in cybersecurity.’
Gustafsson started Darktrace after a two-year stint at Mike Lynch’s Autonomy Corporation.
Customers include car manufacturers McLaren and Aston Martin, alcoholic drinks producer Jagermeister, satellite operator OneWeb and construction company Sir Robert McAlpine.
DIY INVESTMENT PLATFORMS
AJ-Bel
AJ-Bel
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive investor
interactive investor
Fixed investment costs from £4.99 per month
Saxo
Saxo
Get £200 back on trading fees
Trading 212
Trading 212
Free trading and no account fees
Affiliate links: If you purchase a product, This is Money may earn a commission. These deals are chosen by our editorial team because we think they are worth highlighting. This does not affect our editorial independence.