22 Feb 2024

Woolworths CEO retires after disastrous interview

From Morning Report, 8:20 am on 22 February 2024

A financial columnist thinks Australians will see a connection between the retirement of Woolworths' boss and his disastrous appearance on ABC's Four Corners programme.

Woolworths' Australia's chief executive Brad Banducci made the announcement, on the same day as he revealed the company posted an AUD$781 million half-year loss.

It comes just days after he was shown walking out of an interview when questioned about sky-high grocery prices.

The Four Corners episode looked at how Woolworths and Coles profit off rising prices.

In a segment of the programme, journalist Angus Grigg asks Banducci about Australia's concentrated supermarket sector.

Australian Financial Review columnist James Thomson spoke to Ingrid Hipkiss.