Brad Banducci, CEO of Woolworths Australia, has officially stepped down. This follows a fiery interview where Banducci made a gaff that seemed to impugn the former CEO of ACCC, Rod Sims and then wanted his comment removed. The clip went viral and is a salutary lesson in how not to conduct yourself when being interviewed - it’s best to assume you are always on the record.
Banducci will continue as CEO until September 1st, when Amanda Bardwell, the managing director of the supermarket group's e-commerce arm, will become its 13th CEO. Bardwell’s entry into the role also marks the first female CEO for the supermarket chain. Chairman of the supermarket group, Scott Perkins, stated that Banducci's departure bore no reflection and was not influenced by the recent controversy.
"The test of any CEO is to leave the business in much better shape than when they started. On that simple metric, history will judge Brad as one of Woolworths Group’s finest leaders,” said Perkins.
While thanking Banducci, Perkins underscored Bardwell’s entry into the role with her history of successful leadership within the business.
“Amanda is a proven leader, business builder and modern retailer. Under her leadership, WooliesX recently went from infancy in 2015 to a $7bn market-leading business. Amanda is highly respected throughout the organisation, and I know, like Brad, we will live our purpose and work hard to achieve Woolworths Group’s full potential.”
Banducci was offered the opportunity to delay the announcement, given the viral nature of his Four Corners interview walk-out, but he declined as he felt that this would be "inauthentic".
Woolworths and Coles have come under pressure and questioned for price gouging and the lack of competition in the Australian grocery industry. The heat is on and does not look like lessening any time soon.
