November 26, 2019 / 11:21 PM / 10 days ago

Australia's Woolworths says CEO to forgo bonus after wage scandal

Nov 27 (Reuters) - Australia’s biggest grocery chain Woolworths Group said on Wednesday Chief Executive Officer Brad Banducci will forgo his bonus following an underpayment scandal.

Acknowledging payment shortfalls to employees, Banducci would forgo his full-year 2020 short-term bonus, while Chairman Gordon Cairns would take a 20% reduction in his board fee, the company said.

In October, Woolworths said it had underpaid thousands of supermarket workers for years and would need to repay as much as A$300 million ($203.6 million). ($1 = 1.4736 Australian dollars) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Anil D’Silva)

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