Poppy Gustafsson, the co-founder and chief executive of British cybersecurity firm Darktrace, has stepped down from her role with immediate effect. The announcement comes as the company prepares for a $5.3 billion takeover by US private equity firm Thoma Bravo. Gustafsson, who founded Darktrace in 2013 alongside Mike Lynch, expressed pride in the company’s achievements over the past decade.
“Together, we have revolutionized the marketplace for cybersecurity and brought our AI-powered technology to almost 10,000 customers around the world, keeping them safe from cyber disruption,” she said in a statement. Jill Popelka, Darktrace’s recently appointed chief operating officer, will assume the role of group CEO. Popelka emphasized the company’s potential, stating, “the potential of Darktrace is enormous,” and that its “technology has never been more critical to organizations around the world.”
Darktrace, which employs more than 2,400 staff and operates in 110 countries, has been a pioneer in using artificial intelligence to combat cyberattacks.
Gustafsson’s departure at Darktrace
The company’s share price remained steady at around 584 pence following the announcement of Gustafsson’s departure. Thoma Bravo had previously walked away from takeover talks with Darktrace in 2022 but has now agreed to a deal that many analysts believe undervalues the company.
Gustafsson’s departure will reduce the number of female leaders in the UK tech industry, where women occupy just one in five senior roles. Darktrace’s time as a publicly listed company has not been without controversy, with short-sellers and analysts criticizing the business model for focusing more on sales than substance. Reports from Quintessential Capital Management and others have alleged questionable accounting and sales practices.
As Darktrace transitions into private ownership under Thoma Bravo, the tech community will be closely watching how Jill Popelka leads the company forward. The cybersecurity firm’s success has been recognized, but its future direction remains to be seen.
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