Woolworths chief executive Brad Banducci has surprised investors by quitting the country’s largest supermarket retailer in the midst of a damaging political fight over profit margins, wiping almost $3 billion from the company’s value.
After eight years in the top job, Mr Banducci will be replaced by Amanda Bardwell, the company’s head of loyalty and e-commerce. Ms Bardwell, who will take over as CEO in September, is the first woman to lead the company since its founding.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
