Woolworths finds hope in Banducci CEO appointment
Woolworths may have just found its chance for salvation and it comes in the form of its new CEO, Brad Banducci.
There is no doubt Banducci is the right pick for the role. First and foremost, he walks into the job with the transformation of Dan Murphy’s liquor stores credited to his name. After joining the Woolworths group in 2011 Banducci helped turn Dan Murphy’s into the leading Australian liquor giant it is today. It is the one investment owned and operated by the Woolworths group that is currently going incredibly well.
When Woolworths announced last Friday that it had appointed Banducci, it said he had “retail in his blood”. Woolworths is right on this front. Banducci grew up working in his father’s sewing shop and his mother’s clothing businesses in his home country of South Africa. Banducci knows the front lines of retail.
Join that experience with business degrees and years of getting to know the inner workings of the group, Banducci is what Woolworths needs. There is no magic fix, especially when Aldi is creeping into all corners of Australia, but Banducci may jsur be the start of a Woolworth’s revival.