One of London’s renowned tech executives, Poppy Gustafsson, is poised to leave British cybersecurity firm Darktrace following its acquisition by US private equity firm Thoma Bravo.
Gustafsson, who co-founded the company in 2013 under the patronage of deceased billionaire Mike Lynch, revealed on LinkedIn that she will be succeeded by the firm’s Chief Operating Officer, Jil Popelka, as reported by City AM. Gustafsson, an OBE recipient for her contributions to cybersecurity in 2019, expressed pride in Darktrace’s progress. “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. She believes it’s the appropriate occasion to pass the torch to Jill to steer Darktrace through its conversion into privately-held ownership and beyond. “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,” Gustafsson added.
Earlier this year, Darktrace exited the London Stock Exchange post its £4.3bn takeover by US private equity firm Thoma Bravo. The transaction marked a 20 percent premium on its value at the time on the London Stock Exchange. Darktrace forms part of a growing list of firms that exited the exchange in 2024 amid apprehensions of trading at a discount compared with international counterparts.
Of note, in 2018 Darktrace was subpoenaed by US officials who flagged potential money-laundering allegations if the financial backing included funds accrued from the sale of Mike Lynch’s enterprise Autonomy. At the time, Lynch was embroiled in a complicated lawsuit with Hewlett Packard, who claimed that he had tricked the company into overpaying for Autonomy, which it purchased for $11bn in 2011.
Mike Lynch was among the seven individuals who tragically lost their lives in a yacht catastrophe off the Sicilian coast in late August. Just last week, reports emerged that Hewlett Packard Enterprise (HPE) is planning to pursue Mike Lynch’s widow for up to $4bn (£3bn), as part of its ongoing claim.
The transition signals a significant change in leadership and direction for Darktrace, coinciding with its shift to private ownership under Thoma Bravo’s stewardship.