Well, that was quick. Woolworths chief executive Brad Banducci announced this morning he will be stepping down from his position.
It comes after the car crash interviews the chief executives of Coles and Woolworths gave Four Corners on Monday.
My take? They probably should have sacked their publicity department instead. I’m not sure why both these very clever people agreed to go head to head with the Four Corners team, but it did not end well for them.
Mr Banducci walked off at one point during the interview after taking a swipe at former ACCC chairman Rod Sims for being ‘retired’. In Mr Banducci’s defence, he wanted the comment removed as he felt it was disrespectful, but it wasn’t a good look for him.
Four Corners is not some tame lifestyle program on commercial television. It’s the ABC’s leading investigative program, and they are not going to cut you any slack because you want a ‘do over’.
Playing dress-ups
Mr Banducci’s ‘costume’ of an ordinary worker’s uniform was probably meant to convey him as a man of the people, but it just came across as trying too hard.
Coles chief executive Leah Weckert didn’t fare much better. There was a bit of waffle, some deflection, and “I can’t comment on individual cases”. Not very impressive.
It probably didn’t help that the interview comes just weeks after the disastrous publicity Woolworths attracted for its decision not to stock Australia Day merchandise. The company did not get ahead of that public discourse and seemed to shut down in the face of some spirited debate.
I wonder if he jumped or was pushed? Corporate boards are loathe to turf out a CEO as they are often all on the same cushy renumeration packages, and Coles and Woolworths are known for the some of the best.
Adding to the mix, Coles and Woolworths are facing further scrutiny, with inquiries by both the Senate and the Australian Competition and Consumer Authority (ACCC) into price gouging.
Should Ms Weckert be feeling nervous?
This week’s best deals
Aldi
Sensible: Read, Set … Cook, split chicken, $7.99. I love this product and its close relation the boneless split chicken. So easy, and the flavouring isn’t overwhelming like so many other ready-to-cook products.
Indulgence: Hot Cross Bun varieties, $3.69. Buns, so many buns. Aldi has decided to ditch the ‘spiced fruit buns’ it has been selling all year that look exactly like hot cross buns and sell actual hot cross buns. Good, but no weird flavours, which is disappointing from Aldi.
See the catalogue here.
Coles
Sensible: Corned Silverside, $10/kg, save $1. Putting this in here for the only reason that silverside hardly ever goes on sale. Australia’s blazing-heat summer seems an odd time to advertise something that needs boiling for hours, but you do you.
Indulgence: Smiths Double Crunch varieties, $3.35. Is there really double crunch? Is it measured somewhere? I think it’s the crinkle cut that does it. Crinkle cut is far superior to ordinary slices and this is the hill I will die on.
See the catalogue here.
Woolworths
Sensible: Armor All Wash and Wax car cleaner, half price $6.25. Please never wash your car with ordinary dish detergent. Dishwashing liquid is designed to be abrasive to get the chunks off your saucepans. They can strip the ‘shine’ off your car. Pay for the real car cleaning stuff – it will be worth it and this is an excellent special.
Indulgence: Mix A Mato Tomatoes, $3.75, was $5.90. Is this most expensive way you can eat tomatoes? Possibly. But they also come with a small package of salt and dressing so you can make a mini salad on the go. Love the convenience.
See the catalogue here.
IGA
Sensible: Australian Williams pears, $2.99/kg. Pears are at their peak at the moment, so dive in and take advantage. We love this poached pear recipe for picnics.
Indulgence: Bulla Splits, $7.15, 10 pack. It’s hot out there, and in times like this chocolate-covered ice cream just doesn’t cut it. Splits may make your teeth hurt, but they are refreshing on a hot day.
See the catalogue here.
Did you watch the Four Corners interview? Did you think it was that bad? Why not share your opinion in the comments section below?
Also read: How Coles and Woolworths maintain their power over the grocery market