Woolworths has appointed its head of supermarkets Brad Banducci as new CEO and managing director, effective immediately.
Mr Banducci has been managing director of Woolworths Food Group since February 2015. Prior to this he was managing director of Woolworths Liquor Group and director of Liquor. Mr Banducci joined Woolworths in 2011 after the acquisition of the Cellarmasters Group, a wine direct retail and production company. He was CEO of Cellarmasters from 2007 to 2011.
Mr Banducci appointment follows several key management changes at the company in recent months. In January Woolworths appointed GM of operations for Dan Murphy’s Angus Armstrong as acting director for fuel and convenience, including the Woolworths Metro network. Armstrong took over from Woolworths’ former head of petrol and convenience Michael James who was appointed director of stores.
Chairman Gordon Cairns said the company “undertook a rigorous international search process to find the best person to rebuild the Woolworths business and return it to sustainable growth”.
“Brad has had 25 years in retail, including 15 years consulting to some of the world’s leading retailers, as well as private equity experience in retail. He has had five years with Woolworths, including his role in leading the growth of Woolworths Liquor Group. During this time he was instrumental in the development of Dan Murphy’s, one of Australia’s great retailers.
“This makes him uniquely positioned for this role. He clearly understands the Australian market, has a total commitment to our customers, and a great track record of growing valuable businesses and developing his people.”
Mr Banducci will remain managing director of Woolworths Food Group in the short term. Mr Cairns also announced that former Woolworths CEO Grant O’Brien would leave the business today.
The retirement of Mr O’Brien was announced on June 17, 2015. Under the Transition and Separation Deed agreed at that time, Woolworths agreed with Mr O’Brien that he would cease as CEO and managing director from a date advised to him by the chairman.
Mr O’Brien will cease to be an employee on August 1 2016 but will no longer exercise the responsibilities and powers of the CEO position with effect from today.
For Mr Banducci,
This policy woolworths has of removing popular items from the shelves is becoming extremely annoying.
In the last month you have permanently removed all 2 litre long life milk from the shelves, removed certain popular cracker selections, removed Horlicks drink additive which was great for a good night sleep and certain lines of breads and breakfast favourites. That’s just the recent lot. The shop manager states the products are no longer made.
However my local IGA still stocks all these products so i guess my money will go to IGA. Strange that the products are still made for IGA??
Get your act together and give what the customers want.
regards and adios