Brad Banducci, the former chief executive of Woolworths, has been appointed as the new chief executive officer of TEG, Australia’s largest ticketing and live event group. This appointment comes six months after Banducci’s sudden departure from Woolworths. He will be succeeding Geoff Jones, the long-serving chief executive, who will transition to the role of chairman. TEG is primarily recognized as the operator of Ticketek, a dominant player in the ticketing industry.
The ownership of TEG lies with Silver Lake, a private equity firm based in Silicon Valley. Banducci’s experience at Woolworths, a major retail operation, is expected to bring a new perspective to TEG as it navigates the evolving landscape of live events and ticketing. The transition marks a significant shift in leadership for both TEG and its parent company, Silver Lake, potentially influencing strategies in the live entertainment market. The appointment also highlights the movement of executives between different sectors, as Banducci transitions from retail to the entertainment industry.
