Woolworths Group managing director and CEO Brad Banducci will retire from his role in September 2024.
Banducci will leave the company after 13 years, eight and a half of those years being Group CEO.
Woolworths Group is the parent company of low-price retailer Big W and marketplace MyDeal, as well as its core supermarket chain, Woolworths.
The news comes after Banducci appeared on ABC’s Four Corners, where he momentarily walked out during a heated discussion of whether Australia had a concentrated grocery market.
Amanda Bardwell has been appointed to take Banducci’s place as MD and CEO, commencing on September 1, 2024 following the release of the Group’s FY24 financial year results.
“It has been a privilege to be a member of the Woolies team and one I have never taken for granted,” Banducci said.
“We have a wonderfully talented and passionate team at Woolworths Group, as personified in Amanda Bardwell, and I look forward to working with Amanda and our team over the next few months as we set ourselves up for the next chapter.”
Woolworths Group chair Scott Perkins thanked Banducci for his leadership and contribution.
“Brad has led a remarkable turnaround and transformation of the Group,” Perkins said. “He has engendered a customer first, team first culture, worked to strengthen existing businesses and build digital, eCommerce and analytics capabilities that are seen by our peers as world leading. Most importantly, he has built a team of amazing calibre.
“Woolworths Group has been fortunate to have Brad as its leader and he has indeed helped us to be better together. 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 to have been one of Woolworths Group’s finest leaders.”
Perkins said the appointment of Bardwell as successor came after an extensive international search supported by external consultants.
“Amanda is a proven leader, business builder and modern retailer. Most recently, under her leadership, WooliesX has gone from infancy in 2015 to a $7 billion market-leading business,” Perkins said. “Amanda is highly respected throughout the organisation and I know, like Brad, will live our purpose and work hard to achieve Woolworths Group’s full potential.”
Bardwell has nearly 30 years experience in retail, 23 years of those at Woolworths Group.