Woolworths chief executive Brad Banducci left a heated press conference midway through while being questioned over allegations of price gouging in Australia.
The interview was featured on an episode of ABC Australia’s Four Corners, which delved into how Australia’s largest supermarket chain is profiting from rising prices.
Mr Banducci, wearing a staff uniform, told ABC reporter Angus Grigg that the strike followed a “pretty basic inquiry” into competition law.
Mr Grigg asked: “Rod Sims, former head of the Australian Competition and Consumer Commission (ACCC), says we have one of the most concentrated supermarkets in our country.” [sectors] Is he actually lying? ”
“That’s not true,” Banducci insisted, before listing how other supermarkets were operating near Woolworths stores.
Grigg interjected, “This is what the former head of the ACCC says,” before Banducci decapitated him. “I’m retired…by the way,” Banducci said.
Mr Grigg then said: “I don’t think you would criticize his integrity and understanding of competition law. He retired 18 months ago.”
Dismayed, Banducci asked if he could delete that part of the interview. “I shouldn’t have said that,” he told Grigg. “We’re on the record, you said…just move on,” Grigg responded.
This caused Banducci to stand up and tell Grigg, “I think it’s over.” As he prepares to leave, he can be heard saying, “I’m doing this with good intentions. I’m not doing this with malicious intent.”
“Are you sure you’re leaving?” Grigg asked.
Banducci is CEO of Woolworths Group, which spans Australia and New Zealand. The company owns Woolworths and Countdown supermarkets in New Zealand.
Mr Grigg called the move “pretty surprising” on ABC’s News Breakfast.
“I think this shows that the president of the country’s largest supermarket chain is really unwilling to face too many questions,” he said.
“This shows how little oversight they’ve had over the years, and I think this is a really big problem.”
Banducci then returned to finish the interview, and Grigg, looking surprised, said, “Let’s continue.”
The interview comes as the Coles and Woolworths chains investigated by Four Corners face increasing pressure over food prices in Australia. Both companies are facing a Senate inquiry into their market power and pricing decisions.