The leadership at Darktrace is undergoing a significant shift following its acquisition by Thoma Bravo.
- Poppy Gustafsson, a co-founder and significant figure in cybersecurity, announces her resignation.
- Jil Popelka, currently the Chief Operating Officer, will assume Gustafsson’s role.
- Gustafsson expresses pride in the company’s achievements since its inception in 2013.
- The transition reflects an ongoing trend of UK firms exiting the London Stock Exchange.
Poppy Gustafsson, known for her substantial contributions to the cybersecurity sector, is stepping down from her role at Darktrace. Her departure follows the company’s acquisition by Thoma Bravo, a notable American private equity firm. Gustafsson, who established the firm in 2013 with the financial support of the late Mike Lynch, shared the news on LinkedIn. She will be succeeded by Jil Popelka, the current Chief Operating Officer of Darktrace.
Gustafsson, awarded an OBE in 2019 for her impact on cybersecurity, conveyed her immense pride in Darktrace’s journey. “Darktrace has been a huge part of my life and my identity for over a decade and I am immensely proud of everything we have achieved in that time,” she stated. Her decision to step down is premised on the belief that it is the appropriate moment for Jil Popelka to lead Darktrace into its new phase of private ownership. “Now is the right time to hand over the reins so Jill can lead Darktrace through its transition into private ownership and beyond. I remain Darktrace’s number one fan,” she added.
This transition comes in the wake of Darktrace’s £4.3 billion exit from the London Stock Exchange, driven by Thoma Bravo’s acquisition. The acquisition, representing a 20 per cent premium on its market value, is part of a broader trend of companies leaving the exchange, amid concerns over trading discounts compared to international competitors.
Previously, in 2018, Darktrace faced inquiries from US officials over potential financial irregularities linked to Mike Lynch’s past business dealings. Lynch was involved in a contentious legal battle with Hewlett Packard over the sale of his company, Autonomy. This sale, claimed by HP as deceitful, resulted in inflated purchase prices. Lynch’s recent passing, due to a tragic accident, has reignited legal proceedings, with Hewlett Packard Enterprise reportedly pursuing claims against his estate.
The leadership change at Darktrace marks a pivotal moment as it transitions into a new era under private ownership.