Super Retail Group fires CEO Anthony Heraghty
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More news: Super Retail Group was the worst performer on the ASX 200 in morning trade after the Rebel owner fired its managing director and CEO Anthony Heraghty over his relationship with the company’s former chief human resources officer.
Shares were down 2.5% to $16.83 at 11:40am AEST. The stock is down 4.5% over the last 12 months.
What they said: "Clearly, new information has come to light, however we are surprised around the timing given how long it has been since these investigations were initiated," said E&P retail analyst Kade Madigan.
"We had previously anticipated that [Super Retail] would host an Investor Day later in CY25 to update the market with a refreshed longer-term strategy. We would expect this will still occur; however the timing will now be dependent upon the appointment of a new long-term CEO."
Super Retail Group fires CEO Anthony Heraghty
The news: Supercheap Auto and Rebel owner Super Retail Group has fired managing director and chief executive Anthony Heraghty after receiving new information regarding his relationship with the company’s former chief human resources officer.
The context: The termination is effective immediately with chief financial officer David Burns to fill in on an interim basis while a replacement chief executive is sought.
After the board received new information from Heraghty regarding his relationship with the company’s former chief human resources officer, it determined that his previous disclosures “were not satisfactory”, according to a statement to the exchange.
The board has lapsed Heraghty’s incentives including “all unvested incentives and vested but unexercised rights”.
The source: ASX
