The South African who became the CEO of Australia’s largest retailer
Brad Banducci grew up in Boksburg, Gauteng and would eventually go on to lead the largest retailer in Australia, the Woolworths Group.
Banducci grew up in the gold mining town, about 30 minutes outside of Johannesburg, where he worked with his father selling sewing machines.
Despite being a teenager, he was the number one salesman at South Africa’s annual Easter Show.
He then attended the University of KwaZulu-Natal, where he received a Bachelor of Commerce in Economics and Accounting, as well as a Bachelor of Laws with a specialisation in Tax and Company Law.
After a brief stint in London, he moved to Australia in 1998 on a bursary to study for an MBA at the UNSW Business School, graduating in 2001.
He was then the first employee of the Boston Consulting Group (BCG) in Australia. During his 14 years with BCG, he also worked in the USA and New Zealand.
He gained his first exposure to Woolworths, which has no relation to Woolworths South Africa, during his consulting years.
While in New Zealand, he started to grow a love for retail, and bought a bakery business and a vineyard.
He returned to Australia in 1999 and would become the CFO of payments fintech Tyro in 2005.
After running out of money trying to keep Tyro afloat, Banducci worked as a consultant to acquire supplementary income.
He then helped Archer Capital purchase the wine distribution business Cellarmaster. Banducci made such an impression that he was asked to join Cellarmaster as CEO.
Woolworths then bought Cellarmasters in an AU$340 million deal. Although Banducci suggested that he be made redundant, he was kept on as managing director of its liquor business.
Four years later, in 2015, Banducci was appointed chief executive of the entire company.
Woolworths is the largest retailer in the country. Along with Coles, the two companies are the dominant players in the food market.
New endeavours
Banducci took over during a tough period for the retailer, whose share price was struggling and its supermarkets division was losing ground to Coles.
The company’s board was fractured, and several key divisions were haemorrhaging money.
Under Banducci, the company exited its hardware business, Masters, sold its fuel business, EG and then its drinks business, Endeavour, where Banducci started.
Banducci’s early tenure at the company saw its share price nearly double and claw back market share from Coles.
Amid skyrocketing inflation in Australia, the company also increased its margins to record levels following the COVID-19 pandemic.
However, the company faced struggles near the end of its tenure, including an investigation by the Australian Parliament into price-gauging at the retailer.
Banducci left Woolworths in late 2024. Following his departure, he joined TEG in March 2025.
TEG is a leader in live entertainment, ticketing, digital and data, and focuses on live event experiences for millions of fans.
“I am honoured to join TEG at this exciting time in its journey,” Banducci said.
“In this new role, I am following both a personal passion for live events and a strong belief in the increasing importance of live experiences in general.”
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