Woolies boss' multi-million dollar payout revealed
Chief executive Brad Banducci announced his early retirement on Wednesday, following a series of PR disasters for the brand and just days after a trainwreck interview with ABC Four Corners.
Now, the staggering amount he will be paid-out for walking away from the top job has been revealed.
According to a report published by The Australian, the supermarket boss will take home a share portfolio worth an estimated $24.4 million.
This is in addition to the $6.5 million he would likely be paid-out from his salary.
Banducci will step down from his position in September and he will be replaced by former WooliesX leader Amanda Bardwell, who will take over as Chief Executive then.
Woolworths Group has denied the suggestion that the resignation was related to the disaster Four Corners interview where Banducci tried to walk away in the middle of being questioned about price gouging.
A senate inquiry is also currently investigating whether major supermarkets across the country have engaged in price gouging, as the cost-of-living continues to rise.
Banducci has been involved in a series of public controversies before his retirement, including when he came under fire after the supermarket announced it would stop selling Australia Day merchandise ahead of the national holiday in January.
Image: Today