Amber Moves To Restructure Their Problem Plagued Consumer Division
The move follows the sudden resignation of Phil Simmons the former General Manager of the Lifestyle Entertainment Group who is set to join Universal Electronics as International Sales Director Asia Pacific Region.
The decline in sales at Amber started under the management of Brian Lees who struggled to grow sales of the Onkyo, Optoma and Integra product ranges, for the past five years the Sydney based ASX listed distributor has reported a decline in sales of consumer products. At June 30th they reported a loss of $419,000 for the 2014/2015 financial year on revenues of $50,157,000.
The man appointed to try and turn around Aber Technologies consumer market fortunes is Richard Neale as General Manager, Lifestyle Entertainment, commencing November 2015.
“Richard brings new energy to Amber Technology management team at a time of positive change for the company. He adds valuable skills to support the structural adjustments we have made to our business model, and we are looking forward to introducing Richard to our staff and customers in November 2015,” commented Amber COO Robert Glasson.
Recently Amber directors said that they were unable to provide guidance on potential future results “with any certainty”.
The Company that reported losses of $1,000,000, at June 2014 said that they had borrowed $712,000 during the 2014/2015 financial year.