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-half years as CEO and 13 with the company as a whole.
Mr Banducci will be replaced by current managing director Amanda Bardwell who will receive a base salary of $2.15million with generous bonus incentives.
It comes just days after the embattled boss walked out of an ABC interview after asking if one of his answers could be cut.
Mr Banducci also came under fire in recent months for Woolworth’s decision not to stock Australia Day merchandise.
Woolworths CEO Brad Banducci (pictured) has announced he is stepping down days after walking out of ABC interview
Mr Banducci came under fire in recent months for Woolworth’s decision not to stock Australia Day merchandise (pictured: Australia Day revellers on the Gold Coast)
The move provoked widespread fury, with Opposition Leader Peter Dutton calling for a boycott of the store.
Some shoppers demanded Mr Banducci’s resignation, while Woolworths staff members copped most of the backlash after they were subjected to 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 $2.15million with generous bonus incentives
‘I want to personally apologise to all of you for the way our merchandising decision has been received – and how this has resulted in hurtful and inappropriate reactions directed at you, our team members,’ Mr Banducci wrote.
He has also faced criticism for the supermarkets alleged price gouging.
More to come.
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Read more at DailyMail.co.uk