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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchASIC has commenced civil penalty proceedings against former Super Retail Group CEO and Managing Director Anthony Heraghty. The regulator alleges he failed to disclose and manage a conflict linked to an alleged relationship with a senior executive, and that information provided to the board and market omitted details about it. These are allegations, not findings by a court.
What is the Super Retail Group CEO accused of?
ASIC alleges that Heraghty did not properly disclose and manage a conflict arising from an alleged relationship with a senior executive. It says he continued to supervise that executive and took part in decisions about the person’s employment, remuneration, incentives, rewards and redundancy package.
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ASIC also alleges Heraghty participated in board and committee discussions about complaints and anticipated legal proceedings concerning the alleged relationship. The regulator says he provided or authorised information to the board and market that left out information about it.
ASIC Chair Sarah Court 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.” The focus of the regulator’s case, as described in its release, is therefore corporate duties, conflict management and disclosure—not a court determination about private conduct.
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What laws does ASIC say were breached?
ASIC alleges contraventions of two provisions of the Corporations Act:
- Section 180: ASIC says Heraghty failed to exercise the care and diligence required of a director.
- Section 1309(2): ASIC says materially misleading information was given about the company’s affairs.
ASIC is seeking declarations of contravention, pecuniary penalties and disqualification orders. Those are remedies the regulator has asked the court to consider; they have not been imposed by the cited announcement.
Has a court decided the case?
No court judgment is reported in ASIC’s announcement of 21 September 2026. That release confirms that civil penalty proceedings have commenced and outlines ASIC’s allegations and requested remedies, but it does not establish the outcome. The allegations should not be described as proven unless a court later makes findings to that effect.
What happened before ASIC filed its case?
Super Retail Group’s 2024 statement
On 26 April 2024, Super Retail Group said two employees expected to commence court proceedings. The company said the anticipated claims would include non-disclosure of a relationship between Heraghty and the former Chief Human Resources Officer, as well as allegations concerning company travel, bullying, victimisation, adverse treatment, workloads, resourcing, access to information and record management.
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The company said a board review supported by independent external advisers had not substantiated the allegations and that it would defend any proceedings. This was the company’s stated position at the time; it is distinct from ASIC’s later case and is not an independent court finding.
Super Retail Group estimated that the two employees’ joint loss-and-damage claim would be between A$30 million and A$50 million. This was an anticipated claim amount reported by the company in 2024, not damages awarded by a court.
Termination and change of leadership
According to contemporaneous reporting, Super Retail Group terminated Heraghty with immediate effect on 15 September 2025 after receiving new information about his relationship and concluding that his prior disclosures were unsatisfactory.
ASIC identifies Heraghty’s tenure as CEO, Managing Director and board member as running from 31 March 2019 to 15 September 2025. The company’s FY2026 annual report identifies Paul Bradshaw as Group Managing Director and Chief Executive Officer. That report covers the financial year ended 27 June 2026 and was approved on 20 August 2026.
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What penalties could apply?
ASIC described the following maximum penalties for the alleged breaches. They are statutory maximums cited by the regulator, not penalties imposed on Heraghty:
| Alleged provision and period | Maximum penalty described by ASIC | Status |
|---|---|---|
| Section 180 breaches occurring during 2022–2024 | A$1,110,000 to A$1,565,000 per breach | Maximum range stated by ASIC in 2026; not a penalty imposed |
| Section 1309(2) breach occurring in 2024 | A$1,565,000 per breach | Maximum stated by ASIC in 2026; not a penalty imposed |
The figures concern the maximum available per breach, as described by ASIC. They do not predict what a court may decide or what penalty, if any, may ultimately be ordered.
Quick Recap
How to distinguish the different claims
- ASIC’s case: alleged failures to disclose and manage a conflict and alleged materially misleading information to the board and market.
- The employees’ anticipated claims: workplace and other allegations described by Super Retail Group in April 2024, together with an anticipated joint claim for loss and damage.
- The company’s response: Super Retail Group said its review had not substantiated the allegations then raised and that it would defend anticipated proceedings.
- The court outcome: not established by ASIC’s announcement of the commencement of proceedings.
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