Directorate Change

Darktrace plc

6 September 2024

Darktrace plc ("Darktrace")

CEO Announcement

Poppy Gustafsson to step down as CEO of Darktrace; Jill Popelka appointed successor

Darktrace plc (DARK.L), a global leader in cybersecurity AI, announces Poppy Gustafsson will step down as Chief Executive Officer (CEO) with effect from today and Jill Popelka, Darktrace's current Chief Operating Officer (COO), has been appointed as her successor. Jill will assume the role of CEO and will also be appointed to the Darktrace Board of Directors with effect from today.

Jill has more than two decades of experience of driving operational best practices and maturing teams, systems and processes for fast-growing businesses. She previously held senior leadership roles at leading global technology businesses, including Accenture, Snap Inc and SAP SuccessFactors, one of the largest enterprise cloud businesses in the world, which she led as President. Jill joined Darktrace in January 2024 as a Non-Executive Director, before assuming her current role of COO at Darktrace on 1 June 2024.

Poppy Gustafsson, outgoing CEO of Darktrace, said: "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. Together we have revolutionised the marketplace for cyber security and brought our AI-powered technology to almost 10,000 customers around the world, keeping them safe from cyber disruption.

This challenge has required tremendous personal and professional commitment from me. With the acquisition of Darktrace by Thoma Bravo nearing its completion and with us having identified an excellent successor in Jill, now is the right time to hand over the reins so Jill can lead Darktrace through its transition into private ownership and beyond. I am profoundly grateful to have had the privilege of leading such an exceptional team and I look forward to remaining engaged in this exciting next chapter of the business as a non-executive director after the transaction completes. I remain Darktrace's number one fan."

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 stewardship, the business has transformed from a promising collaboration of AI and intelligence experts to a high-growth global leader in cyber security. This has been reflected in the significant value Darktrace has created for its shareholders under Poppy's leadership since its IPO in 2021 and through the acquisition by Thoma Bravo, one of the world's leading investors in software businesses.

"Jill is a proven and highly regarded leader in global technology businesses who has contributed immensely to the Board and more recently in her role as COO. With Poppy stepping down, the Board has implemented its CEO succession plan and is delighted that Jill has accepted the role of CEO. She has the deep sector experience, people leadership skills and energy and passion to lead Darktrace into the next stage of its journey."

Jill Popelka, incoming CEO of Darktrace, said: "Poppy and the team have built something very special. The potential of Darktrace is enormous - our technology has never been more critical to organisations around the world and our AI-native capabilities position us at the forefront of the ever-changing cyber security market. We have an outstanding platform offering, a broad base of customers across the globe, and some of the most talented people working in technology, not least our remarkable R&D teams based in Cambridge and The Hague.  I am excited to partner with the whole Darktrace team to take advantage of the many opportunities we have ahead of us as we embark on this next phase of our journey."   

Andrew Almeida, Partner at Thoma Bravo, said: "We are fully supportive of Poppy and the Board's succession plan. Jill is the perfect leader to build on Poppy's tremendous legacy at Darktrace as it embarks on this next phase of its life given her immense experience of scaling and maturing fast-growing businesses. She cares deeply about people, about serving customers and about creating a company with a sense of mission and purpose at its core. We look forward to working with Jill and the wider team to help elevate Darktrace's place as the essential cybersecurity platform for the changing threat landscape."

The acquisition of Darktrace by Thoma Bravo continues to progress as anticipated. All antitrust and regulatory approvals have now been received, with the exception of one foreign regulatory approval, which is currently anticipated by 28 September 2024. Per the transaction timetable, Darktrace will seek the UK court's sanction of the transaction as soon as this final regulatory approval has been received, with the closing of the transaction expected shortly afterwards.  

This announcement is made in accordance with the notification requirement in UKLR 6.4.6R and there are no other disclosures that need to be made under UKLR 6.4.8R relating to the appointment of Jill Popelka.

Enquiries

Candice Macdonald - Darktrace

Direct: +44 7502 494139

candice.macdonald@darktrace.com

Luk Janssens - Darktrace

Luk.janssens@darktrace.com 

Henry Wallers - Headland

Direct: +44 7876 562436

hwallers@headlandconsultancy.com

https://ir.darktrace.com/governance/s430-2b-companies-act-2006

About Poppy Gustafsson

·    Poppy was part of the team of mathematicians, business people and intelligence experts who founded Darktrace in 2013 and brought its AI-powered cybersecurity solutions to market.

·    Under her leadership, the company has seen significant growth and global expansion. It now employs over 2,400 people, operates in 110 countries and serves close to 10,000 customers.

·    During this time, breakthrough innovations from Darktrace's R&D teams have resulted in over 200 patent applications filed. 

·    Darktrace listed on the London Stock Exchange in 2021 and, during its time on the public markets, increased its market capitalisation from £1.7bn to £4.1bn (as at 5 September 2024).

·    Poppy was honoured with an OBE for services to cybersecurity in 2019.  She has also won a number of accolades as CEO including Tech CEO of the Year at the UK Tech Awards 2021.

·    Poppy is a chartered accountant and in 2022, she received an honorary Doctor of Science degree from the University of Sheffield for her "outstanding achievements in the field of Cyber Security".

·    Poppy lives in Cambridge and is a mother to two daughters, aged 12 and 8.

About Jill Popelka

·    Jill joined Darktrace in January 2024 as an independent Non-Executive Director. In May 2024, Jill stepped down from the Board of Directors to assume the role of Chief Operating Officer.

·    Jill has more than two decades of experience of driving operational best practices and maturing teams, systems and processes for fast-growing businesses. 

·    Jill previously served as the Head of Enterprise Services at Snap Inc. Prior to joining Snap in 2022, Jill was President of SAP SuccessFactors, where she was responsible for strategy, customer success, and the overall health of the business unit.

·    Before Jill's appointment as President of SAP SuccessFactors, she served as the company's Chief Operating Officer, overseeing all aspects of the business units' operations.

About Darktrace

Darktrace, a global leader in cybersecurity artificial intelligence, is on a mission to free the world from cyber disruption. Breakthrough innovations from our R&D teams in Cambridge, UK, and The Hague, Netherlands have resulted in over 200 patent applications filed. Rather than study historic attacks, Darktrace's technology continuously learns and updates its knowledge of your business data and applies that understanding to help transform security operations to a state of proactive cyber resilience. The Darktrace ActiveAI Security Platform™ provides a full lifecycle approach to cyber resilience that can autonomously spot and respond to known and unknown in progress threats within seconds across the entire organisation, including cloud, apps, email, endpoint, network and operational technology (OT). Darktrace employs over 2,400 people around the world and protects close to 10,000 customers globally from advanced cyber threats. To learn more, visit http://www.darktrace.com.