Shares in Supercheap Auto and Rebel owner Super Retail Group are higher after the company shored up a leadership gap with the promotion of its outdoor retail manager to chief executive.
Anthony Heraghty, currently in charge of the company’s Boating, Camping and Fishing, Rays, and Macpac brands, will replacing the retiring Peter Birtles at the helm from March 31.
In an announcement to the ASX on Tuesday, Super Retail said Mr Heraghty was the standout candidate from an executive search that commenced after Mr Birtles’ retirement was announced in October 2018 as part of a planned succession process.
Super Retail’s share price climbed 2.9 per cent to $7.10 at 1325 AEDT, having earlier reached $7.21, its highest price in a month.
The price is still down nearly 20 per cent from $8.92 at the same time last year, in a climate that has seen a number of retailers struggle.
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The company is trading nearly 34 per cent lower than its three-year high of $10.83 in April 2017.
Mr Birtles, who was with Super Retail for 18 years, will present the company’s first-half results with Mr Heraghty on February 14.
Mr Heraghty joined Super Retail in 2015 and was previously group manager of underwear for Pacific Brands, responsible for Bonds.
Shortly after Mr Birtle’s retirement announcement, online fashion retailer The Iconic nabbed Super Retail’s sports division manager Erica Bertchtold, who had been tipped as a contender for higher duties at her former workplace.
