Angela Samut’s unexpected departure as QMusic boss has raised a few eyebrows

The unexpected departure of the head of Brisbane-based QMusic after just two years on the job has raised more than a few eyebrows.

Kris Stewart is the newly-appointed boss of QMusic.

SURPRISE EXIT

The unexpected departure of the head of Brisbane-based QMusic after just two years on the job has raised more than a few eyebrows.

Angela Samut quit suddenly as CEO of the state’s peak music development industry association to supposedly “spend more time with her young family’’.

She actually resigned in mid-March but QMusic only acknowledged that fact on Tuesday when it revealed that Brisbane Powerhouse artistic director Kris Stewart had been tapped as her replacement starting next month.

There was no hint of the shake-up as recently as two weeks ago, when Samut rocked up to the Queensland Music Awards at the Fortitude Music Hall in the Valley.

Angela Samut

But something of a bombshell landed the following week when it emerged that a photographer alerted QMusic in late 2019 about an alleged sexual assault of an artist at the BIGSOUND conference four years earlier.

When the photographer subsequently took to Instagram in March to criticise a perceived lack of action by QMusic, she received several “cease and desist’’ letters from the organisation and later apologised for her screed.

Insiders subsequently criticised QMusic’s legal response as heavy-handed and unnecessary.

A QMusic spin doctor told City Beat that Samut’s resignation was not related to the issue and she was not forced to step down.

Samut, a former communications and marketing boss for Screen Queensland, did not return a call seeking comment. She also previously worked for Paramount Pictures, Network 10, Festival Mushroom Records and Planet Hollywood.

Meanwhile, our spies say Stewart’s pick has been met with a mixed response as tensions continue to play out within the Powerhouse hierarchy.

DISAPPOINTING START

A Brisbane audio tech outfit suffered a disappointing start on the first day of trade on the ASX even as it claimed to have commercial momentum.

Shares in Audeara, which had raised $7m from investors, never managed to trade above its 20 cent issue price on Tuesday. It finished the day at 17 cents.

Launched in 2015, the start-up has developed noise-cancelling headphones that include a personalised hearing test and are primarily sold through Australian audiology clinics.

But with the global target market forecast to grow to $US5.7bn by 2025, Audeara has ambitious plans to expand into the US, Europe and Asia.

Dr James Fielding (left) and Alex Afflick

The debt-free company has posted nearly $2m in losses over the past two financial years as it scales up but notes that revenue surged 55 per cent to just over $900,000 in 2020.

The number of audiology clinics stocking the product tripled to 600 over that time and revenue climbed 13 per cent in the December half.

Audeara also expects to release a “next generation’’ set of headphones later this year.

Company founders Dr James Fielding, Dr Chris Jeffery and Alex Afflick have plenty of skin in the game, controlling a combined stake of nearly 22 per cent.

Chairman and seed investor David Trimboli remains the biggest single investor with a 14.5 per cent holding.

Other backers include Wotif co-founder Andrew Brice and billionaire coal baron Brian Flannery.

Interests associated with Brice have acquired about 12.5 million shares for a near 12 per cent stake in the business.