Home > Latest News > EXCLUSIVE: Peter Shamoon Not Shopping For Job Back At Struggling PAC

EXCLUSIVE: Peter Shamoon Not Shopping For Job Back At Struggling PAC

Peter Shamoon, claims that effective from today he is back running the struggling Premium Audio Company in Australia and that he is not shopping for a new job.

He told ChannelNews that the business that has recently launched new products including Integra and Onkyo receivers is set to launch a new range of Klipsch products in the second half of the year which he claims Harvey Norman “are keen on”.

Peter Shamoon right seen with the CEO of Qualifi Left Michael Hendrickson

“I am not shopping for a new job, I am back at work today with the Premium Audio Company asnd we have some great products in the pipeline”, he said.

Shamoon took time away from the US business that is suffering in both Australia and in global markets to care for his sick mother who has since passed away.
In Australia PAC has been controversial ever since Vox International in what was seen as a “unethical move” dumped Melbourne based Qualifi as their distributor to establish the Premium Audio Company subsidiary in Australia.

Very quickly their plans went pear shaped after Shamoon and Phil Hawkins, both former senior executives at Qualifi, who left to set up the Vox owned Company, failed to deliver on their sales plans, which Hawkins had been working on prior to leaving Qualifi.

This was revealed when he left a USB in his old desk drawer, with confidential sales data on which was used to convince overseas management that the business had a “brighter” future operating as a subsidiary.

Very quickly, as things started to go backwards at the US audio Company, Philip Hawkins, the former director of sales operations at the Premium Audio Company, and prior to that General Manager of Consumer at Qualifi, along with Shamoon and Bill Liacopoulos who were also former Qualifi executives were out at PAC.
Shamoon, left to care for his mother, while the specialist dealer business given to Melbourne based distributor Westan.

Now Shamoon is claiming that he is back, and looking forward to delivering at the subsidiary that is struggling to grow sales.

During the past year Premium Audio product sales came in at $237.9 million which is $36.6 million or 13.33% below sales of $274.5 million in the last fiscal year.

The company reported last week that the double-digit decline in Premium Audio sales was largely attributed to “softness in the global economy and markets such as Australia, Europe, and Asia.

They blamed a “challenging” retail, supply chain and the current consumer environment.

Addressing the fall in demand for Integra and Onkyo receivers, executives claimed that the business had experienced a large buy-in of receivers in Fiscal 2023, and that in 2023 the market “normalised”.

The only problem was that despite a surge in demand for PAC products in 2023 and actions taken by the company in the wake of a disastrous Fiscal 2023, their 2024 business has continued to deteriorate.

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