Amber CEO’s Wife Quits: Another Brand Tipped To Go This Week
The company, which is set to report a further fall in sales, has not reported to the ASX the axing of staff.
We can now confirm that among the staff dumped is the PA to human resources, support desk staff, management from their Melbourne office, as well as Debbie Amos, the wife of CEO Peter Amos who last year increased his remuneration package to $383,000, despite two years of poor results. Amos is one of the highest-paid executives at Amber Technology.
Yesterday, after we revealed the mass sackings at Amber, we were contacted by several staff who complained that the company was doing very little to market the products they sold and that what was needed was a “change of management at the top”.
One former executive said: “Amber are their own worst enemy, they have had some great products, but struggle to market them because they lack marketing expertise in the company. Their social network marketing is non-existent and they are relying on retailers or partners to market the products they sell. This is not happening. They are also failing to win contracts, despite the recent ABC win”.
In their latest ASX filing, Amber reported a loss of $4.69m in 2012. This was down from a profit after tax of $126,000 in the previous period. Sales slumped 22.9 percent to $51.4m, from $66.7 million the same time a year ago. Staff who have been retrenched claim that further losses are tipped and that sales are down “significantly”.
The AV distributor was forced to borrow $400,000 late in 2012, with further borrowings tipped.
Company Secretary Robert Glasson has not returned our calls.
In a report to the Australian Securities Commission, the company said its working capital, being current assets less current liabilities, had decreased by $3.69m to $12.8m at 30 June.