Poppy Gustafsson to Step Down As CEO of Darktrace; Jill Popelka Appointed Successor

PRESS RELEASE

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 UKcourt’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.