ASIC sues former Super Retail Group boss
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The corporate watchdog has brought civil penalty proceedings against former Super Retail Group chief executive and managing director Anthony Heraghty, alleging he breached his directors’ duties and provided misleading information to the board and the market over his alleged relationship with the group’s former HR head.
On Monday (21 September), ASIC launched federal court proceedings against Heraghty, the former head of ASX-listed company Super Retail Group (SRG), alleging he’d failed to disclose and manage conflicts of interest arising from an alleged undisclosed relationship he had with former head of human resources, Jane Kelly.
In particular, the regulator alleged that he’d continued to supervise Kelly and participated in decisions affecting her 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 SRG’s board and the market that omitted information concerning the alleged undisclosed relationship, which it says was therefore misleading.
Breaches of directors’ duties, under 180 of the Corporations Act, can attract a maximum penalty of between $1,110,000 and $1,565,000 per breach for contraventions occurring between 2022 and 2024. Heraghty was SRG’s CEO, managing director, and a board member between March 2019 and September 2025. Under s1309(2) of the act, providing misleading information to a listed company board can attract a maximum penalty of $1,565,000 per breach, for contraventions that occurred during 2024.
As reported in September 2025 by HR Leader’s sister brand, Lawyers Weekly, SRG terminated Heraghty’s employment amid a clash with the group’s in-house counsel, and as further information about the alleged relationship with Kelly came to light.
Speaking about the proceedings, ASIC chair Sarah Court said that governance and directors’ duties failures and misconduct damaging market integrity are enduring enforcement priorities for the corporate watchdog.
“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. The allegations in this matter raise important issues about governance, transparency and trust in the information provided to boards and the market,” she said.
“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. Trust and integrity underpin Australia’s market and corporate sector, and 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.”
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A conflict of interest is an inconsistency or discrepancy between an organization's or a person in a position of trust's internal or private interests and its official obligations.
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