ASIC alleges axed Super Retail boss breached duties, misled shareholders
ASIC alleges Anthony Heraghty breached directors’ duties and misled the board and market about an undisclosed relationship, and it is seeking penalties and disqualification orders.
- On Monday, the Australian Securities and Investments Commission launched civil proceedings in the Federal Court against former Super Retail Group CEO Anthony Heraghty, alleging he breached directors' duties by misleading the board regarding an undisclosed relationship with a senior executive.
- ASIC Chair Sarah Court stated that Heraghty "put himself in a position where his personal interests conflicted with his duties" to Super Retail, while the regulator claims he supervised his partner Jane Kelly while influencing her remuneration.
- Heraghty was sacked by the board last year following disclosures about the relationship; the regulator claims his actions exposed Super Retail to "foreseeable risks of harm," including damage to reputation, share price, and regulatory standing.
- Currently, Heraghty serves as CEO of the Winning Group, which is reportedly preparing for an Australian IPO, though ASIC alleges he failed to manage conflicts arising from his prior relationship.
- Super Retail, which operates brands like Rebel, BCF, and Supercheap Auto, previously settled legal action in September 2025 from two former employees who alleged they faced harassment after raising whistleblower complaints concerning the executive's undisclosed relationship.
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BREAKING NEWS: Winnings Group Facing Major Crisis After ASIC Moves On New CEO – channelnews
The corporate-governance scandal surrounding Winnings Group CEO has escalated dramatically after the Australian Securities and Investments Commission (ASIC) today launched civil penalty proceedings against the former Super Retail Group chief. Iintense scrutiny has turned directly toward his newly minted leadership role at Winning Group. Key Implications for Winning Group and Ellerston Capital Heraghty’s appointment as chief executive of Winning Group in August 2026. coming just weeks before ASIC formally initiated court action, has created an immediate, high-stakes governance test for the family-run premium appliance giant and its key investor, Ellerston Capital. While no court ruling currently blocks Heraghty from holding office, a potential disqualification order sought by ASIC would directly strip him of his ability to serve as CEO, throwing Winning Group’s executive leadership into sudden chaos. Winning Group has historically weighed a future public float or major external capital-raising strategies. The cloud of active civil proceedings involving a chief executive makes executing an IPO significantly more difficult, likely deterring institutional investors. Anthony Heraghty, CEO and group managing director of Super Retail Group Prospective investors and board directors are now urgently questioning what Winning Group knew about the impending regulatory storm before backing his appointment. Legal and market observers warn that the intense reputational scrutiny trailing Heraghty will inevitably bleed into Winning Group’s critical relationships with financiers, commercial suppliers, and retail employees. The Past Actions and Downfall of the Former Super Retail CEO The legal action brought by ASIC commissioner Sarah Court focuses squarely on Heraghty’s final years leading Super Retail Group (the parent company of Rebel, BCF, and Supercheap Auto), unpacking a timeline defined by internal conflicts, disputed investigations, and misleading market disclosures. ASIC claims Heraghty breached his directors’ duties (Section 180 of the Corporations Act) and provided misleading material to both the board and the ASX (Section 1309) by concealing an intimate relationship with former Chief Human Resources Officer Jane Kelly. The watchdog alleges Heraghty maintained direct supervision over Kelly, influenced her remuneration and redundancy packages, and actively participated in board-level discussions regarding complaints about their relationship. For roughly 16 months, Super Retail’s board aggressively defended Heraghty against whistleblower claims—even issuing threats of defamation counter-suits. An early externally-supported review concluded the allegations were “not substantiated”. The narrative flipped on September 16, 2025, when Super Retail abruptly fired Heraghty after receiving “new information” that rendered his prior disclosures unsatisfactory. The termination saw him stripped of unvested share-based entitlements valued at approximately $6.8 million. More to follow:
Corporate cop sues former Super Retail boss Anthony Heraghty
The corporate watchdog is suing former Super Retail Group boss Anthony Heraghty for allegedly misleading the board and the market about the nature of his relationship with a senior executive at the retailer.
ASIC alleges axed Super Retail boss breached duties, misled shareholders
Save (0) Please login to bookmark Close Username or Email Address Password Remember Me Enforcement action by the corporate cop alleges former Super Retail Group CEO and managing director Anthony Heraghty breached his directors’ duties and provided misleading information to the board and the market. Subscribe to Lawyerly to access this article. Already a subscriber? Username or Email Address …
Sydney Morning Herald
Corporate cop sues former Super Retail boss, alleging he misled the market
ASIC alleges the former CEO of Rebel Sport’s owner misled the market and breached his directors’ duties over a relationship with a former senior executive.
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