The supermarket giant’s outgoing CEO refused to answer repeated questions about the company’s return on equity, which infuriated Greens senator Nick McKim.
has been warned he could be held in contempt of the Senate and face potential jail time after he repeatedly refused to answer questions about a key measure of the supermarket’s profitability.
“I feel compelled that it is open to the Senate to hold a witness in contempt when they refuse to answer a legitimate question,” McKim said. “We make a reasonable profit, both a 10 per cent return on funds employed after tax and also a 10 per cent total shareholder return over the last five years. And as I said earlier, much of this goes back to Australian households in the form of superannuation and dividends,” Banducci told the inquiry.
The average return on equity of Australia’s big four banks across the past five years is 9.9 per cent.Dion Georgopoulos
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