Darktrace chief steps down ahead of £4.3bn private equity takeover

Darktrace, the British cybersecurity company, has announced that its co-founder and chief executive Poppy Gustafsson is to step down.

The move comes ahead of a £4.3bn takeover of the company by private equity firm Thoma Bravo, which was announced in August.

Gustafsson will be replaced by Darktrace's chief operating officer, Jack Stockdale, who has been with the company since 2016.

Gustafsson said in a statement that she was "immensely proud" of what Darktrace had achieved during her time as CEO.

"I have decided that now is the right time for me to step down as CEO and hand over the reins to Jack," she said.

"Jack has been an exceptional COO and has played a key role in Darktrace's success. I am confident that he will continue to lead the company to even greater heights."

Stockdale said he was "honoured" to be taking over as CEO of Darktrace.

"Poppy has been an inspiring leader and I am grateful for her support and guidance during my time at the company," he said.

"I am excited about the future of Darktrace and I am confident that we can continue to build on our success and deliver value for our customers and shareholders."

The takeover of Darktrace by Thoma Bravo is expected to complete in the first quarter of 2023.

Darktrace is a leading provider of cybersecurity solutions, and its products are used by a wide range of organizations, including governments, businesses, and financial institutions.

The company has been growing rapidly in recent years and is now one of the most valuable tech companies in the UK.