CLANCY OVERELL | Editor | CONTACT
In news that seemed almost certain to break at some point this week, it can be confirmed that Woolworths CEO Brad Banducci is stepping down from his role.
After overseeing one half of the Australian supermarket duopoly for eight and a half years, Banducci will retire in September this year.
This announcement follows a binfire interview on Monday night’s broadcast of ABC’s Four Corners. Banducci appeared on the programme wearing a Woolworth’s polo and a name tag, as though he has anything to do with the over 100,000 overworked floor staff who have suffered through at least $571 million in wage theft since the pandemic.
The programme had investigated claims that the both Coles and Woolworths had brazenly engaged in the practices of price gouging, ripping off farmers, and ripping the Australian middle class.
While CEOs from both companies appeared on the Four Corners expose, it was only Banducci that threw a tantrum over the questions he was being asked and temporarily walked out of the interview.
The Woolworths CEO took issue with the reporter’s decision to quote former ACCC chair Rod Sims, who says “Australia had one of the most concentrated grocery markets in the world”
Banducci snapped at the accusation and insisted it ‘wasn’t true’ – before discrediting Sims as “retired” and storming off set.
After being calmed down off camera by some sort of PR spin doctor, Banducci then asked the reporter if his previous comment could be removed from the interview.
This bizarre request to have the public broadcaster edit their journalism to make him look better gave Australians a great insight into just how comfortable Corporate Australia has become with the protection racket offered to them by both the media and political class.
However, this dummy spit can’t have hurt the Woolworths brand more than the price gouging that Australian public has had to endure throughout a cost-of-living crisis, while the supermarket giant hides behind the virtue signalling of rainbow pride banners and a feel-good boycott of Australia Day merchandise.
Although, it does seem that the last straw was watching a multimillionaire CEO would wear the same uniform as a Woolworths shelf-stacker while defending unethical corporate practices in an upper class South African accent.
