Brad Banducci will step down as chief executive of Ticketek Entertainment Group (TEG) after little more than a year in the role.

The former Woolworths Group CEO will leave the business at the end of the month, according to the Australian Financial Review. In a statement to staff, Banducci said he believed it was the right time to transition the company’s leadership.

TEG has appointed COO Cameron Hoy as group CEO, effective June 1.

Banducci joined TEG in March last year, six months after departing Woolworths, bringing more than 30 years of experience across the retail and consumer sectors.

His previous roles include MD of Woolworths Liquor (Endeavour Group), CEO of Cellarmasters Group and CFO at Tyro Payments.