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AAP
AAP
Politics
Kat Wong

Woolies CEO to step down as cost-of-living weighs heavy

The resignation of Woolworths CEO Brad Banducci has fuelled criticism of supermarket practices. (Luis Ascui/AAP PHOTOS)

POLITICIANS REACT TO WOOLWORTHS CEO BRAD BANDUCCI'S RESIGNATION:

"I want to talk about things other than personalities. (When) customers out there get to the checkout, they should get the lowest prices possible and when farmers are getting less for their products, then the price at the checkout should reflect that."

- Prime Minister Anthony Albanese

"It's about time ... once you tear away the very shallow exterior of these CEOs, underneath it is a very deep-seated and very sinister value of the company that he was leading - that was exploiting farmers and consumers."

- Nationals leader David Littleproud

"Farmers, workers and shoppers are going to keep getting smashed regardless of who wears the CEO badge ... It is price gouging, corporate power and market dominance that are the real problems."

- Greens senator Nick McKim

"This is a decision for Mr Banducci himself, it's also a decision for the board of Woolworths, representing the shareholders. But I think what's most important is the prominence that not just Woolworths but also Coles have experienced in the media lately, and particularly - as part of this cost of living crisis - what their role is."

- Opposition finance spokeswoman Jane Hume

"Over the last 6 months, Woolworths' profits have risen, and the amount of money they are making on items is also up. Woolworths is not showing restraint here, despite financial pressures on workers' budgets."

- ACTU Assistant Secretary Joseph Mitchell

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