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Super Retail Group (ASX: SUL) CEO Anthony Heraghty has been sacked by the company after new information emerged over his previously undisclosed relationship with a former employee.
The dismissal, effective immediately, has come in the shadow of a lawsuit filed last year by a former employee against the company alleging bullying and “unreasonable workloads” for some employees in the corporate team.
It was these allegations, initially from two former employees, that brought to light Heraghty’s relationship with the company’s former chief human resources officer. The officer was not one of the two employees making the damaging claims against the company.
In a statement to the ASX today, Super Retail Group says it has decided to terminate Heraghty’s position after receiving “new information” from the former CEO regarding his relationship with the former chief human resources officer.
“In light of this new information, the board has concluded Mr Heraghty’s prior disclosures were not satisfactory,” says the company.
“The board will carefully consider the implications this may have for the company and any related matters.”
Chief financial officer David Burns has been appointed interim CEO as the company, which operates the Supercheap Auto, Rebel, BCF and Macpac brands, searches for Heraghty’s replacement.
The sacking has cost Heraghty dearly with the company also revealing it has stripped him of potential bonuses, including rights to shares that he has already received.
“The board has exercised its discretion to lapse Mr Heraghty's incentives, which includes all unvested incentives and vested but unexercised rights,” says the company.
Heraghty’s total remuneration for FY25 was $3.32 million which included $810,177 in performance rights.
The former CEO’s sacking follows a record revenue performance by the group in FY25, although statutory net profit fell 8 per cent to $222 million due to lower margins and higher finance costs.
The former CEO had been with Super Retail Group for more than 10 years, joining the company after a six-year run as CEO of Pacific Brands’ Bonds clothing business.
He was appointed group CEO of Super Retail Group in 2019.
The sacking of the CEO stems from revelations made by two former employees in April last year that included allegations of “inappropriate company travel; bullying, victimisation and adverse treatment; particular employees in the corporate team having unreasonable workloads, insufficient resources and restricted access to information; and unsatisfactory company record management”.
In September last year, Super Retail Group announced that it officially had received a statement of claim lodged in the Federal Court by Harmers Workplace Lawyers on behalf of one of the employees.
“The statement of claim is consistent with the allegations previously announced, save that the allegations have only been made by one employee and not two as previously expected,” said the company in an earlier announcement in July last year.
Super Retail Group is defending the proceedings which it previously disclosed were expected to amount to joint claims by the two employees for loss and damage of between $30 million and $50 million.
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