Woolworths CEO Brad Banducci announces he is stepping down days after leaving ABC interview
Woolworths CEO Brad Banducci has announced he is stepping down just days after walking out of an ABC interview and in the wake of the supermarket's controversial decision not to stock Australia Day merchandise.
The supermarket announced on Wednesday morning that South African-born Mr Banducci will retire in September after eight and a half years as CEO and 13 years with the company as a whole.
Mr. Banducci will be replaced by current CEO Amanda Bardwell, who will receive a base salary of $2.15 million with generous bonus benefits.
It comes just days after the embattled boss walked out of an ABC interview after asking for one of his answers to be cut.
Mr Banducci has also come under fire in recent months over Woolworth's decision not to stock Australia Day merchandise.
Woolworths CEO Brad Banducci (pictured) has announced he is stepping down just days after leaving the ABC interview
Mr Banducci has come under fire in recent months over Woolworth's decision not to stock Australia Day merchandise (Photo: Australia Day revelers on the Gold Coast)
The move caused widespread anger, with Opposition Leader Peter Dutton calling for a boycott of the store.
Some customers demanded Mr Banducci's dismissal, while Woolworths employees bore the brunt of the backlash after facing abuse from customers.
In a memo to staff, obtained by Daily Mail Australia, Mr Banducci told staff he was “deeply sorry” they had to endure the backlash.
Mr Banducci (pictured) will be replaced by Amanda Bardwell, who will receive a base salary of $2.15 million with generous bonus benefits
“I would like to personally apologize to all of you for the way our merchandising decision was received – and how it resulted in hurtful and inappropriate responses directed at you, our team members,” Mr. Banducci wrote.
He has also been criticized for alleged price gouging by supermarkets.
More to come.