Woolworths chief executive Brad Banducci will step down after facing intense scrutiny over price gouging at his supermarkets and a disastrous interview with the ABC.
Mr Banducci announced he will be resigning in September after eight years in the role.
Amanda Bardwell will replace him as Managing Director and Group CEO.
The shock resignation took investors by surprise with the share price plunging six per cent in early trade.
The cost of living crisis has put the major supermarket chains under intense pressure from both the public and members of parliament.
The ACCC will investigate supermarket pricing this year and next month, a Senate inquiry will be launched into price gouging held in Canberra with the heads of Coles and Woolworths called to appear.
Category : Interviews and Podcasts
