EXCLUSIVE: Shamoon Settles According To Fair Work Court, Contractor Deal With Klipsch
Former Qualifi Sales Manager Peter Shamoon has told people close to him he has settled his unfair dismissal case with his former employer. ChannelNews understands that no additional payments have been made to him.
According to records with the Fair Work Commisssion who hear disputes relating to unfair dismissal, the matter between Shamoon and Qualifi is now settled following a mediation conference.
Both Shamoon and Qualifi management have refused to comment on the case, after we revealed Shamoon had worked with US audio Company Klipsch while still employed by Qualifi.
Currently Klipsch is setting up a an Australian and Asia Pacific subsidiary in Australia that will compete head on with the likes of Sound United who have the Denon, Marantz, Polk, and Bowes & Wilkins brands in Australia.
They will also compete with arch-rival Harman and their JBL and Harman Kardon brands.
According to Klipsch insiders Shamoon will not be employed directly by the US Company.
He has told people associated with Klipsch that he will work as a contractor for the Voxx owned Klipsch Group in Australia.
ChannelNews understands that the contract between Shamoon and Klipsch can be terminated within 30 days according to retail sources.
Recently former Qualifi General Manager Phil Hawkins listed his new role with the Premium Audio Company which is also owned by Voxx International on LinkedIn. He describes himself as Regional Sales Director Asia Pacific a role that ChannelNews understands also covers Countries such as Singapore, Malaysia, and Vietnam.
The move by Voxx International the owners of Klipsch to set up a direct sell subsidiary in Australia comes at an interesting especially as Shamoon and Hawkins are believed to have told Klipsch management that they are “certain” that they can land the JB Hi Fi account.
However, the real risk is how Harvey Norman will react to losing an exclusive relationship with Klipsch forged by Qualifi management.
While there are no indications at this stage that JB Hi Fi will range Klipsch or Premium Audio products there is a real possibility that Harvey Norman could soon start selling a Sound United brand alongside their Klipsch offering.
Voxx International the owners of Klipsch are looking for more growth and the move to a subsidiary in Australia, which was openly suggested to them by Shamoon while still employed by Qualifi is a move that is fraught with issues according to sources.
VOXX International Corporation shares have grown 471% during the past five years and has risen 87% during the past quarter.
However, during the past 12 months the business has struggled to make a profit. During the 5 years that the stock has been rising revenue has actually been trending down around 8.8% per year. This is in stark contrast to the strong share price growth.
VOXX International shareholders have received a total shareholder return of 330% over the past year. That gain is better than their annual TSR over five years, which is 42%.