Baroness Gustafsson is set to resign from government as soon as today, according to Sky News, less than year after she was appointed by the Prime Minister Keir Starmer.
The investment minister, who has only only been on post since October, is one of the only members of the government front benches with business experience, having run cyber-security firm Darktrace before entering politics.
Speaking on Sky News, the channel’s City editor Mark Kleinman said Poppy Gustafsson was leaving government for personal reasons, citing sources who said she wants to spend more time with her young children.
Starmer appointed Gustafsson to the House of Lords in order to make her a minister, hailing her as “an accomplished entrepreneur who brings invaluable experience to the role“.
She had been an advocate of private sector leaders serving in government, saying earlier this year: “I for one would welcome more business people into government. You can have a real impact and your experience will be welcomed. Anyone that is thinking about it, please do let me persuade you to do it!”
Gustafsson oversaw a period of gargantuan growth during her time at the helm of Darktrace, helping take the business from little-known start-up to one of the most UK’s feted tech success stories.
The firm listed on the London Stock Exchange to great fanfare in 2021. But it only lasted two years as a public company, before it was bought in a take private deal that remains one of the London bourse’s darkest episodes.
Starmer’s appointment of Gustafsson was seen by many in the City as a major coup, bolstering
The Treasury was approached for comment.
More to follow