Woolworth’s share price has doubled since Banducci took the reins, beating ASX 200’s 45 per cent rise over the same period.
Woolworths Group CEO Brad Banducci is being touted as a candidate to replace outgoing Qantas chairman Richard Goyder, thanks to his turnaround of the retail conglomerate and Canberra nous.Investor sources told Street Talk Banducci would be a great fit to take over from Goyder whose impending retirement was announced this month amid scrutiny of his leadership. He is due to exit by November 2024.
To be clear, Qantas hasn’t officially kicked off the search, although it has hired C-suite headhunter Egon Zehnder and nominated candidates internally. Still, Banducci – along with ex Macquarie Group boss Nicholas Moore – are the types of execs long-suffering fund managers are crossing fingers for.For Banducci in particular, Woolworth’s share price has doubled since he took the reins, beating ASX 200’s 45 per cent rise over the same period.
Chairing Qantas’s board is arguably the toughest board gig in corporate Australia right now. The chosen candidate would be put under the microscope by investors and newspapers while Qantas fights to recoup trust from its customers, investors and the government after multiple scandals that run the whole gamut from unusable flight credits, creative accounting, use of government subsidies and treatment of staff to its leadership’s refusal to accept responsibility until it was too late.
Chairman John Mullen refused at the AGM to answer questions about Ms Brenner’s ability after concerns were raised over her tenure on the board of Qantas Airways.
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