Brad Banducci, Managing Director and Group CEO of Woolworths Group, will retire in September 2024 after 13 years with the company, including over eight years as Group CEO.
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Amanda Bardwell is appointed as the new Managing Director and Group CEO of Woolworths Group, starting 1 September 2024.
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Bardwell has nearly 30 years of experience in retail, with 23 of those years at Woolworths Group, and has led to significant growth in the company’s eCommerce and Loyalty businesses.
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Bardwell’s appointment follows an extensive international search process for a new CEO.
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Bardwell’s remuneration package includes a total fixed remuneration of $2.15 million per annum, with the potential for short-term incentives (STI) up to 150% of the fixed remuneration and long-term incentives (LTI) up to 170% of the fixed remuneration.
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Bardwell’s term as Group CEO is ongoing, with the option for either party to terminate employment with 12 months’ notice, and includes specific provisions for termination without notice under certain conditions.
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Brad Banducci is credited with leading a significant turnaround and transformation of Woolworths Group, emphasizing a customer-first and team-first culture, and leaving the company in a much stronger position.
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Amanda Bardwell’s educational background includes a Bachelor of Business in Marketing from Queensland University of Technology and a Masters of Business Administration from the University of NSW.
This announcement is a summary of the company approved ASX announcement on 21/2/2024 and is based on facts from the announcement.
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