The big names axed from Sydney’s Power 100 list

Former RBA boss Philip Lowe was the third most powerful person in Sydney last year. This year he’s not even in the top 100. He’s not the only big name dumped.

Getting punted from the Reserve Bank of Australia — and The Daily Telegraph Sydney Power 100 list — has done wonders for Philip Lowe’s golf game, with the former maestro of monetary policy on course to lower his handicap to single figures.

Dr Lowe is the highest-ranking of the more than 25 names to cop the chop from the rankings in 2024. Communication failure is a common theme among the departed.

The former RBA Governor was number three last year, behind only Prime Minister Anthony Albanese and Premier Chris Minns.

Dr Lowe was shown the door in September after he said, at least three times in 2021, that the RBA cash rate was unlikely to rise until 2024 — only for the board he led to hike 12 times between May 2022 and June 2023.

The 62-year-old now splits his time between ritzy Bonnie Doon in Sydney’s eastern suburbs and chairing a unique funds management firm called Future Generation Australia, which harnesses investment expertise to help kids.

The Telegraph understands Dr Lower has cut his handicap from 15 in December last year to 11 now, meaning he now plays in A grade not B.

Dr Lowe has been replaced at the RBA — and at no.3 in the rankings — by his one-time deputy, plain-speaking Michele Bullock.

A series of public missteps also brought down the man who was 11th last year, Woolworths CEO Brad Banducci.

The beginning of the end was Woolies’ decision not to stock Australia Day merchandise, triggering a national furore. “I, we, misread the political environment and did not land our message as effectively as we should have,” Mr Banducci said in January.

A month later, he stormed out of an interview for Four Corners after attempting – unsuccessfully – to have an on-the-record crack at former ACCC boss Rod Sims edited out.

Mr Banducci announced his resignation within days. Woolies’ head of loyalty and eCommerce Amanda Bardwell will become CEO later this month.

Mr Banducci was CEO for eight years.

Brad Banducci, Liz Fitch and Philip Lowe have all been dumped from the Power 100 list.

Alan Joyce can well understand how Mr Banducci would be feeling. The former Qantas CEO also suffered an ignominious end to his 15 years running Qantas.

Mr Joyce reached a high of 13 in the 2023 power list and was due to leave in November last year.

But the board ended up hastening his departure as the scandals mounted. Under Mr Joyce, Qantas unlawfully sacked 1700 workers, withheld $1 billion of customer refunds and sold tickets to flights it had already cancelled (leading to a $120 million court fine).

Last week the Flying Kangaroo’s board said the company would claw back more than $9 million of Mr Joyce’s $23.6 million golden handshake.

One of Anthony Albanese’s closest confidants Liz Fitch was 23 in 2023 but nowhere this year, after quitting the Prime Minister’s team amid rumours of tensions in the tent.

Rod McGeoch has left the list too, having failed to convert his interim chairmanship at Venues NSW into a permanent gig.

Others to exit after losing their jobs: Seven Network’s James Warburton (from 31) and Craig McPherson (50), NSW Origin captain James Tedesco (46), The Star casino’s Robbie Cooke (47) and Greyhound Racing NSW’s Rob Macaulay (63).

Prominent sports figures who are still in their jobs but have made way on the Power list include NRL star Tom Trbojevic (74) and Socceroos coach Graham Arnold (90). y

The full Sydney Power 100 rankings will be revealed on Thursday