The outgoing CEO was told he may be found in contempt of the Senate during a fiery hearing into supermarket pricing.
The parliamentary probe into supermarket prices was suspended after Banducci, who is stepping down later this year, was repeatedly warned by committee chair Nick McKim about giving evasive answers when asked about his company's return on equity.
Banducci repeatedly told the committee that return on equity was not his focus, and Woolworths is instead more interested in return on investment. "It is open to the Senate to hold you in contempt, and that carries potential sanctions including up to six months imprisonment for you," he said after saying the Woolworths boss could simply say he didn't know the answer and take the question on notice.
"Senator I've tried to be very specific in saying what we focus on and that is where my focus is. So return on investment... those are the numbers I focus on."
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