Woolworths CEO retires

Woolworths Group chief executive officer Brad Banducci will retire this September after 13 years with the brand. 

The retail giant announced [pdf] the news as part of its half-year results on Wednesday which saw its group sales reach $34.6 billion, up 4.4 percent from the same time last year. 

Woolworths also announced Amanda Bardwell will become the 13th leader of the company as managing director and group CEO, starting this September.

Bardwell will step over from her current as managing director of WooliesX within the Woolworths Group leading digital and media, ecommerce and fulfilment plus loyalty and fintech. 

Woolworths Group chair Scott Perkins said, “On behalf of the board and all of the Woolworths Group team, I would like to thank Brad for his outstanding leadership and contribution. 

“Brad has led a remarkable turnaround and transformation of the group,” Perkins said. 

Perkins added during his time in the CEO role, Banducci “worked to strengthen existing businesses and build digital, e-commerce 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,” Perkins said. 

Perkins said, “History will judge Brad to have been one of Woolworths Group’s finest leaders”. 

Banducci took to LinkedIn to share an internal message on his decision to step down. 

“This is a decision I have been contemplating for a while especially given it is literally 8 years since my appointment and as we go into the Woolworths Centenary the timing felt right,” Banducci said. 

"Not because I am tired or burnt out (I am as energised by our business and our potential as I have ever been) or am worried about the various upcoming price inquiries (I am looking forward to effectively representing Woolworths at these important forums),

“But because I think a leader should go before they need to and, more importantly, because I believe passionately in the amazing talent in our Group and it is time to pass on the baton.”

He said he “looks forward” to working with Bardwell over the next six months “to set Woolworths Group up for its next chapter”.  

“I do not intend to go quietly into the night and look forward to working with all of you to help our customers spend less, for us to be rightly famous for the care we show our customers and each other and to continue to be better together,” Banducci said.