Full Breakdown
ASIC sues former Super Retail Group chief over alleged market mislead
By Drooid · · How we work
Core Event
The Australian Securities and Investments Commission (ASIC) has commenced Federal Court proceedings against Anthony Heraghty, the former chief executive of Super Retail Group. ASIC alleges Heraghty breached directors’ duties by failing to disclose and manage a conflict of interest involving his relationship with former head of human resources Jane Kelly, and by providing the board and market with misleading information about that relationship. The action was announced on September 21, 2026.
Background and Prior Legal Actions
Super Retail Group terminated Heraghty’s employment with immediate effect on September 15, 2025, after the board concluded his disclosures were unsatisfactory. The retailer also cancelled his $8.7 million of incentives and a $620,760 cash bonus that had not been paid. Earlier, the company settled separate lawsuits brought by former chief legal officer Rebecca Farrell and former company secretary Amelia Berczelly, which it said cost Super Retail Group $40 million. Heraghty has since been hired by appliance group Winnings ahead of an anticipated ASX float.
Key Legal Allegations
ASIC seeks declarations of contravention, pecuniary penalties and disqualification orders. The regulator alleges multiple breaches of section S180 of the Corporations Act for failing to exercise powers with reasonable care, each carrying a maximum penalty of up to $1.56 million for breaches occurring between 2022 and 2024. ASIC also alleges a breach of section 1309(2) for providing misleading information, with a comparable fine for breaches in 2024.
Official Statements & Responses
A Super Retail spokesperson reiterated that the company is not a party to ASIC’s proceedings and that Heraghty will have the opportunity to file a defence.
Verbatim Quotes
- “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
