Woolworths CEO walks out during 'intense' interview: 'I think I’m done'
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In a recent interview with ABC's Four Corners program, Woolworths CEO Brad Banducci found himself in hot water.
The seasoned executive, who has been at the helm of the supermarket giant for eight years, was confronted with allegations of price gouging and the monopolistic nature of Australia's supermarket sector.
The result? A shocking on-air meltdown that ended with Banducci walking out of the interview.
The Four Corners program, known for its in-depth investigative journalism, was examining the contentious issue of how supermarket behemoths Coles and Woolworths profit from rising prices.
Banducci, along with Coles boss Leah Weckert, was invited to share his perspective on the matter.
The interview took a dramatic turn when reporter Angus Grigg posed a seemingly straightforward question to Banducci.
Referencing Rod Sims, the former Head of the Australian Competition and Consumer Commission (ACCC), Grigg asked, 'Rod Sims says that we have one of the most concentrated supermarket [sectors] in the world, is he lying?'
Banducci's response was swift and defensive.
'It's not true—it is not true,' he retorted, attempting to argue that the industry is, in fact, 'an incredibly competitive market'.
When Grigg tried to reiterate the question, saying, 'I'm sorry, the former head of the [the] ACCC says…', Banducci interrupted him, dismissively stating, '[He's] retired'.
Grigg, taken aback, defended Sims' expertise and integrity, saying, 'I don't think you would impugn his integrity and his understanding of competition law [because he's retired],' and reminding Banducci that Sims had only retired 18 months ago.
Banducci, realising his misstep, asked if his comment could be removed from the interview. 'I shouldn't have said that,' he admitted, requesting the footage be cut.
Grigg, however, stood his ground.
'We're on the record, you've said it…let's just move on,' he said.
'I think I'm done, guys,' Banducci then declared, standing up and walking off the set.
Grigg, surprised, responded, 'Really, you're walking out?'
You can watch the full video below:
Video source: TikTok/@abcnewsaus.
Reflecting on the incident later on ABC's News Breakfast, Grigg described Banducci's reaction as 'pretty startling'.
He added, 'I think it shows you that, there you have the boss of the largest supermarket chain in the country really unwilling to face too many questions. It shows how little scrutiny they've had over the years, and I think that's a really big problem.'
Banducci reportedly returned to complete the interview.
In Australia, Coles and Woolworths control a staggering 65 per cent of the grocery market.
Last year, both companies were ordered to appear before a senate inquiry investigating allegations of price gouging, a practice that hits shoppers already grappling with a cost-of-living crisis.
Coles reportedly blamed suppliers and farmers for the rising costs and revealed that they have been receiving an average of more than 70 requests weekly for price increases from suppliers and farmers.
Furthermore, increased energy, labour, logistics, and packaging costs all contribute to the rising prices of goods, according to Coles.
You can read more about this here.
What are your thoughts on Mr Banducci walking out during the interview? Have you felt the pinch of rising grocery prices? Share your thoughts and experiences in the comments below.
The seasoned executive, who has been at the helm of the supermarket giant for eight years, was confronted with allegations of price gouging and the monopolistic nature of Australia's supermarket sector.
The result? A shocking on-air meltdown that ended with Banducci walking out of the interview.
The Four Corners program, known for its in-depth investigative journalism, was examining the contentious issue of how supermarket behemoths Coles and Woolworths profit from rising prices.
Banducci, along with Coles boss Leah Weckert, was invited to share his perspective on the matter.
Woolworths CEO Brad Banducci reportedly walked out during a heated interview with Four Corners. Image source: Woolworths Group.
The interview took a dramatic turn when reporter Angus Grigg posed a seemingly straightforward question to Banducci.
Referencing Rod Sims, the former Head of the Australian Competition and Consumer Commission (ACCC), Grigg asked, 'Rod Sims says that we have one of the most concentrated supermarket [sectors] in the world, is he lying?'
Banducci's response was swift and defensive.
'It's not true—it is not true,' he retorted, attempting to argue that the industry is, in fact, 'an incredibly competitive market'.
When Grigg tried to reiterate the question, saying, 'I'm sorry, the former head of the [the] ACCC says…', Banducci interrupted him, dismissively stating, '[He's] retired'.
Grigg, taken aback, defended Sims' expertise and integrity, saying, 'I don't think you would impugn his integrity and his understanding of competition law [because he's retired],' and reminding Banducci that Sims had only retired 18 months ago.
Banducci, realising his misstep, asked if his comment could be removed from the interview. 'I shouldn't have said that,' he admitted, requesting the footage be cut.
Grigg, however, stood his ground.
'We're on the record, you've said it…let's just move on,' he said.
'I think I'm done, guys,' Banducci then declared, standing up and walking off the set.
Grigg, surprised, responded, 'Really, you're walking out?'
You can watch the full video below:
Video source: TikTok/@abcnewsaus.
Reflecting on the incident later on ABC's News Breakfast, Grigg described Banducci's reaction as 'pretty startling'.
He added, 'I think it shows you that, there you have the boss of the largest supermarket chain in the country really unwilling to face too many questions. It shows how little scrutiny they've had over the years, and I think that's a really big problem.'
Banducci reportedly returned to complete the interview.
In Australia, Coles and Woolworths control a staggering 65 per cent of the grocery market.
Last year, both companies were ordered to appear before a senate inquiry investigating allegations of price gouging, a practice that hits shoppers already grappling with a cost-of-living crisis.
Coles reportedly blamed suppliers and farmers for the rising costs and revealed that they have been receiving an average of more than 70 requests weekly for price increases from suppliers and farmers.
Furthermore, increased energy, labour, logistics, and packaging costs all contribute to the rising prices of goods, according to Coles.
You can read more about this here.
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