Woolworths CEO threatened with jail time during senate inquiry into supermarket pricing

Australian Community Media

'If you do not know the answer, say you do not know', discussions in the Senate Inquiry into Supermarket Pricing became heated after Woolworths CEO Brad Banducci refused to answer questions about the grocery chain's profitability numbers.

Transcript

00:00 I've repeatedly asked you whether you know the ROE.

00:06 You haven't answered that question.

00:09 I want to advise you that if you don't know what the return on equity is for -

00:16 was for your group on average over the last financial year,

00:21 you can just simply say so.

00:24 You can just say that to the committee.

00:27 So I'm asking you again, do you know what the return on equity for your corporation was in the last financial year?

00:38 Senator, that is not what I focus on.

00:40 I don't know what the number is specifically.

00:42 Happy to take the question on notice.

00:44 You don't know.

00:45 Please, this is important, Mr Banducci.

00:47 This is very important because it is open to the Senate to hold you in contempt,

00:52 and that carries potential sanctions including up to six months' imprisonment for you.

00:57 [BLANK_AUDIO]

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