Woolworths Group CEO Brad Banducci will leave the company with a hefty $24.4 million pay-cheque, which some analysts believe could be enough to do a weekly shop at Woolies for a family of four.
“It’s an extraordinary amount of money,” finance commentator Zoe Theopolis said. “To think that he’ll be able to afford a 75 pack of dishwasher tablets, possibly even when it’s not on special, goes to show just how much this golden parachute is worth”.
Banducci’s payout includes share entitlements worth up to $8 million, enough to buy two packets of Kettle chips when they’re bundled together on a price promotion. “He’s very fortunate. It’s the kind of money that can set you up for the week,” Theopolis said.
A Woolworth’s spokesperson acknowledged the payout was a lot of money, but said it was important to put things into perspective. “Once you buy a 500g jar of Mocconna and a few punnets of raspberries, there really isn’t much left”.
