Super Retail CEO Anthony Heraghty has disposed of 176,893 shares in the company in line with orders of the Federal Circuit Court and Family Court of Australia.

The shares are valued at about $2.65 million. 

Heraghty is at the centre of a long-running Federal Court case led by two former employees against him, Super Retail and former chair Sally Pitkin. Super Retail’s former chief legal officer and company secretary, Rebecca Farrell, alleged that she was bullied and harassed for raising concerns about corporate governance breaches. These included Heraghty’s alleged failure to disclose the nature of his relationship with the then-human resources officer Jane Kelly. 

The court proceedings have been underway for two years now, and the Federal Court judge overseeing the case yesterday expressed some frustration at the lack of progress as the parties involved continued to dispute facts. 

Justice Michael Lee said the case’s complexity and ballooning costs were “completely unacceptable” and warned he might compel parties to agree on facts to avoid further delays.

The shares divested by Heraghty were reportedly owned by a family trust, jointly held by Heraghty and his former spouse, suggesting that the transfer was related more to a divorce settlement than the Super Retail case.