Coupa Replaces CEO With Thoma Bravo Partner and M&A Expert, Michael Lipps
Monday 24th August, 2026
Coupa is to replace existing CEO, Leagh Turner with Michael Lipps, a Thoma Bravo operating partner who has been on Coupa's board since 2023.
Leagh Turner has been with the company as CEO since November 2023 and this year Coupa have made three significant acquisitions across the end-to-end source to pay space:
- Cirtuo: AI driven category management and planning.
- Scoutbee: AI supplier discovery platform and network.
- Rossum: AI first intelligent document processing.
New CEO, Lipps has over 30 years of experience across public-company and private-equity software, has held leadership and board roles for Thoma Bravo, HG Capital, TA Associates, K1 Capital Management and Genstar Capital, has built and led multiple rule of 50+ PE-backed companies generating a combined $5 billion-plus in investor value, and specialises in strategically accretive M&A, having completed over 25 transactions in his career.
In June 2026, Coupa was named a Leader in the Gartner Magic Quadrant for Accounts Payable Applications for the second consecutive time.
