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Super Retail Group Identifies Manager Underpayments Through Review of Employment Arrangements and Announces CEO Transition Accelerated

12 Feb 2019  |  09:54:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Manager Underpayments identified. CEO Transition Accelerated

Super Retail Group announced that it will make back payments to retail managers after completing a comprehensive review of employment arrangements across the business. The review identified an underpayment of overtime and some allowances to retail managers. Like the Set Up issue, the review found that while managers' base salaries were correct, not all overtime hours were paid in accordance with the Award. Additionally, some allowances required under the Award were not paid. The Company will recognise $32m pre-tax to cover the estimated cost of back payments to retail managers for the six financial years up to and including FY 2018. It announced Mr. Anthony Heraghty, currently MD of the Company's Outdoor Retailing business, would succeed Mr. Birtles on 31 March 2019.

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