When previous MD Banducci was appointed to the top job Woolies deviated from about 30 years of history. Previous CEO’s were trained up for years and years and many started in the aisles of a supermarket.
Banducci had a consulting background. He fundamentally did not understand the Woolies customer as evidenced by the terrible approach to selling, not selling Australia Day merchandise.
Banducci also displayed his inner city woke by championing The Voice across the whole group. Don’t touch politics is the lesson here. Stick to making great returns for shareholders and looking customers.
WOW Price at posting:
$30.19 Sentiment: None Disclosure: Not Held
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