Two former executives of Statewide Super have been acquitted of dishonesty charges stemming from their roles in the procurement of services. The verdicts were delivered in the District Court of South Australia, with the jury acquitting former Chief Risk Officer Kieran Francis Netting on October 7, 2025, followed by the acquittal of former Chief Financial Officer Grant David Eastwood on October 15, 2025.
The prosecution was led by the Commonwealth Director of Public Prosecutions after a referral from the Australian Securities and Investments Commission (ASIC). Both Eastwood and Netting faced charges related to their actions during the procurement process from February 2019 to December 2019, which were alleged to contravene sections 184(2)(a) and (b) of the Corporations Act.
The two men were formally charged on December 9, 2022, and they pleaded not guilty at their initial appearance in the Adelaide Magistrates’ Court on February 29, 2024. Following their not guilty pleas, they were committed for trial in the District Court of South Australia, which was scheduled to commence on September 8, 2025.
The acquittals mark a significant conclusion to a case that garnered attention due to the high-profile nature of the accused and the seriousness of the charges. The jury’s decision reflects their assessment of the evidence presented during the trial, ultimately finding in favor of the former executives.
This outcome may have broader implications for corporate governance and the regulatory landscape in Australia, particularly concerning how procurement processes are monitored and enforced. The case underscores the importance of transparency and accountability in corporate operations, especially in the financial sector.
As the legal proceedings concluded, both Eastwood and Netting expressed relief at the verdicts, indicating a desire to move forward after a challenging period. The focus now shifts to the potential repercussions within Statewide Super and its operational practices in the wake of these events.
