The group behind Rebel Sport and Supercheap Auto has tapped the head of its outdoors division to take over from long-standing boss Peter Birtles as chief executive.
Super Retail Group said on Monday that Anthony Heraghty, who oversees the BCF (Boating, Camping, Fishing), Rays and Macpac chains, will be elevated to the top job at the end of March.
Anthony Heraghty will take over as CEO of Super Retail in March.Credit: Jessica Hromas
Mr Birtles has been CEO at the group for the past 13 years, and announced his retirement in October.
With no successor in place, that announcement spooked investors and sent its shares plunging 21 per cent over five days, from $9.35 to $7.38. The stock has slid further since then, and on Monday closed at $6.90.
Super Retail's chair Sally Pitkin said a global search had identified a number of candidates, but it was determined that Mr Heraghty was best placed to "lead the next era of growth for the Super Retail Group".
“Anthony is a trusted and respected leader with a track record of delivering improved business performance, coupled with an absolute commitment to and understanding of customer needs," she said.
Super Retail's brands include Rebel Sport, Supercheap Auto, Macpac, BCF and Rays Outdoors. Credit: Daniel Munoz
Mr Heraghty joined Super Retail in 2015. He previously held senior roles at Bonds' owner Pacific Brands, and oversaw the evolution of the iconic underwear brand from a wholesale operation to a direct-to-consumer retail business.
Prior to that he was the global marketing director at Foster's Group.
"With changing customer expectations, we are being challenged to innovate and modernise our business to ensure we are fit to compete in the even more competitive retail environment of tomorrow," Mr Heraghty said.
“I’m excited about the opportunity to navigate a great Australian company through the radical changes rapidly reshaping the retail sector."
Mr Heraghty drove the acquisition last year of New Zealand outdoors brand Macpac, which is now being merged with its existing camping supplies chain Rays.
Mr Heraghty will take a slight pay cut from his predecessor, with a base salary of $1 million a year compared to Mr Birtles' $1.23 million, with annual short- and long-term bonuses of up to $1.6 million.
Mr Birtles will stay on to present the group's first-half results in February.