Ex-cybersecurity boss joins red benches to become investment minister

The former boss of cybersecurity firm Darktrace has taken her seat in the House of Lords, enabling her to become investment minister in Sir Keir Starmer’s Government.

The appointment of Baroness Poppy Gustafsson to the Labour frontbench was announced ahead of last month’s global investment summit in London.

The move was seen as a bid to demonstrate the Government’s commitment to strengthening ties with business as the administration looks to boost economic growth.

The 42-year-old co-founded Darktrace in 2013.

Under her leadership, the company saw significant growth and global expansion leading to the company being listed on the London Stock Exchange in 2021, before being sold for more than £4 billion.

Lady Gustafsson wore the traditional scarlet robes for the short introduction ceremony in the unelected chamber, where she swore the oath of allegiance to the King.

She was supported by fellow Labour peer and science minister Lord Vallance of Balham and independent crossbencher Baroness Lane-Fox of Soho, a co-founder of travel website Lastminute.com and president of the British Chambers of Commerce.

Lady Gustafsson, a chartered accountant, received an OBE for services to cybersecurity in 2019.

She studied maths at the University of Sheffield and is married with two children.

The investment minister sits jointly under the Department for Business and Trade and HM Treasury.

In her new role, Lady Gustafsson will oversee an expanded Office for Investment.