Australia’s corporate watchdog has launched civil penalty proceedings against former Super Retail Group CEO and managing director Anthony Heraghty, alleging he breached his directors’ duties and provided misleading information to the board and the market.
ASIC is alleging that Heraghty failed to disclose and manage conflicts of interest arising from an alleged undisclosed relationship he had with a senior executive at the company.
This comes a year after Super Retail – the company behind the likes of Rebel, Macpac, BCF and Supercheap Auto – settled a legal stoush between the company and two former staff members, who both sued the company over claims of bullying and harassment.
The allegations of bullying and harassment also included a conflict of interest on the part of Heraghty by his alleged failure to disclose the nature of his relationship with the then-chief human resources officer.
Heraghty was fired a week before the legal stoush was settled for an undisclosed amount of money in September 2025. Since his axing, the retail executive picked up a new lead role at Winning Group – a retail group in the whitegoods space – last month.
As well as allegations of failing to disclose the nature of the relationship, ASIC also claimed he continued to supervise the senior executive and participated in decisions affecting their employment, remuneration, incentives, rewards and redundancy package; participated in board and committee discussions of complaints and anticipated legal proceedings concerning the alleged undisclosed relationship; and provided or authorised information to be released to Super Retail’s board and the market that omitted information concerning the alleged undisclosed relationship and was therefore misleading.
Providing misleading information to a company board of the ASX, under section 1309(2) of the Corporations Act, can attract a maximum penalty of $1,565,000 per breach for contraventions that occurred during 2024.
ASIC chair Sarah Court said governance and directors’ duties failures and misconduct damaging market integrity are enduring enforcement priorities for ASIC.
“ASIC alleges Mr Heraghty put himself in a position where his personal interests conflicted with his duties to Super Retail Group and that he failed to properly disclose and manage that conflict,” Court said.
“The allegations in this matter raise important issues about governance, transparency and trust in the information provided to boards and the market.
“This case is not about private relationships, but whether a director properly disclosed and managed conflicts of interest and met their duties to the company and shareholders.”
Court added that trust and integrity underpin Australia’s market and corporate sector, saying it is critical that directors fully meet their obligations of transparency and accountability; “where we consider they have failed to do so, ASIC will not hesitate to act,” the chair said.
ASIC alleges these matters exposed Super Retail Group to foreseeable risks of harm, including risks to its corporate reputation, complaints and litigation, regulatory action, costs, and harm to its share price and shareholders.
ASIC is seeking declarations of contravention, pecuniary penalties and disqualification orders.