Woolworth’s New Boss Kept Out of Masters Exit

 In Australia, NewZealand, Woolworths
Woolworths’ newly promoted chief Brad Banducci will not get embroiled in the exit from Masters Home Improvement, ensuring an unwavering focus on the grocery business and repairing Australia’s biggest supermarket chain.
Speaking to investors following the release of their $972.7 million half-year loss, Woolworths’ chief financial officer David Marr is believed to have said Mr Banducci would be "deliberately" kept out of the Masters negotiations.
The decision to quarantine the new chief executive from the hardware business and the protracted negotiations to buy out the 33.3 per cent Lowe’s  stake in the Masters chain has been welcomed by analysts, who see it as a sign of Woolworths’ commitment to get the supermarkets humming again. ​The Age – Read more…

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