Woolworths CEO Brad Banducci steps down days after Four Corners interview airs

woolworths CEO Brad Banducci

He will be succeeded by the current managing director of WooliesX, Amanda Bardwell.

Woolworths CEO Brad Banducci has announced that he will be stepping down from the position after eight and a half years in the role.

He told the Australian Stock Exchange on Wednesday that he will be retiring in September. He will be succeeded by the current managing director of WooliesX, Amanda Bardwell.

The move comes days after an interview with Banducci aired on ABC’s Four Corners, with the CEO walking out in the middle of questioning by reporter Angus Grigg

Whilst sitting down with Grigg for an interview surrounding the supermarket duopoly in Australia and allegations of price gouging, Banducci announced that he was “done” and walked out, after comments he made about the former head of the Australian Competition and Consumer Commission (ACCC) Rod Sims remained on the record.

When asked “Rod Sims, the former head of the ACCC says that we have one of the most concentrated supermarket [sectors] in the world. Is he lying?”, Banducci replied “It’s not true. Retired, by the way.”

“I don’t think you would impugn his integrity and his understanding of competition law,” Grigg replied.

Banducci then requested that the footage be cut from the interview, with Grigg instead choosing to move on as everything was on the record. 

Banducci left to speak with his PR team before returning to finish the interview.

In January, Woolworths released its half-year results. Despite the profit margin of the company growing by $318 million in 2023 during the cost of living crisis, the half-year results showed that the supermarket had recorded a net loss of $781 million.

Days earlier, Woolworths was crowned Australia’s most valuable brand – despite a 5% brand value decline – in the 2024 Brand Finance Australia 100, an annual survey ranking the country’s brands.

See Also: Woolworths crowned Australia’s biggest brand, as Qantas takes a big reputation hit

Tuesday saw the same announcement from Virgin Australia’s chief executive, Jayne Hrdlicka, who has stepped down after just shy of four years. 

Hrdlicka was appointed Virgin CEO in 2020, following the airline’s acquisition by private equity firm Bain Capital during the height of the pandemic. 

“I have decided the time is right for me to signal CEO transition for this great airline and ultimately to pass the baton on,” Hrdlicka said.

“This is not a decision I have taken lightly, but the last four years have been heavy lifting across the organisation during the toughest of times.”

Top Image: Brad Banducci

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