What can CEOs learn from the big bosses at Woolworths Australia and Coles?

What can CEOs learn from the big bosses at Woolworths Australia and Coles?

By Anna Daly, 24th April 2024.

Opinions are divided on the recent media and Senate inquiry appearances made by the CEO of Coles, Leah Weckert and the outgoing Woolworths Australia CEO, Brad Banducci. Some believe that both Banducci and Weckert have conducted themselves impeccably and performed admirably in high-stakes, highly adversarial environments. Others, however, have been stunned by the perceived arrogance of these powerful Australian business figures.

Banducci’s repudiation of questions he doesn’t want to answer and Weckert’s apparent disregard of shoppers has led commentators to wonder if the advice they are receiving is too inwards facing. Evidently, both CEOs have delivered strong performances for investors, but the insularity of the boardroom worlds in which they and their teams operate may pose an existential threat in an industry dependent on a vastly wider public for its livelihood. The results for 2024’s next two quarters have much to tell us about the merits of the current strategies.

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