Fresh from its MBO, application portfolio management firm Camwood has lured Computacenter (CC) alliances director Adrian Foxall to move across as CEO.
The board of the London-based Camwood bought out backers Matrix Partners and Foresight in April, some nine years after the venture capitalists first invested in the business.
Foxall, who is to join the firm on 2 July, was made alliances director in January and prior to that held various senior roles including hardware sales director, alliances director and director of Cisco.
Camwood Chairman Graham Norfolk said: "In this current economic climate the need for businesses to rapidly change and grow is paramount. Making this happen requires a catalyst."
The MBO was completed after Camwood sold its App-DNA software toolset for application management to Citrix in October for $92m.
Current CEO Frank Foxall, Adrian's brother, is moving to a non-exec board director role of Camwood Capital to assess "acquisition targets and technology incubation".
In the year to 31 March 2011, Camwood made an operating profit of £1.17m compared to £108,000 in 2010, on the back of 96 per cent rise in sales to £8.45m. ®