After a difficult period in H1 the Kameleon business has been reorganised and the Company updates today by indicating it anticipates it will return to profit in calendar/fiscal Q4 on the back of business wins. Management has been reorganised with the CEO leaving and the Chief Strategy Officer (and co-founder) taking over the CEO role. The business has been relocated to the Frith Street office where Agenda21 operates and which is also group HQ. This should help build on the success that Kameleon has enjoyed in pitching with group companies. From a financial perspective the effect of the CEO leaving is to half the £3m earn-out value assumption.
