SYDNEY, Australia — There’s a changing of the guard at TEG, as Brad Banducci announces his departure a year to the month since he was unveiled as the new chief executive of the Australia-based live entertainment, ticketing and tech giant.

At the same time, Cameron Hoy, chief operating officer and head of global ticketing, rises into the vacant, top position.

“When I joined the group just over a year ago, I came in to do a specific role — to set the group up for the next horizon of growth,” Banducci comments in a statement. “I felt the time was right to transition leadership of the group.”

Hoy is appointed as group CEO, with effect from June 1. “Cam has been part of the live entertainment and ticketing industry for more than 20 years,” Banducci adds, “through growth, change and every version of this industry and it feels appropriate to pass on the baton to someone who has made such a major contribution to building the group we have today and who is committed to the next chapter of delivering as the partner of choice for venues across the live events spectrum.”

South Africa-born Banducci joined TEG with upwards of 30 years’ leadership experience in the retail and consumer spaces, most recently as CEO of Woolworths Group, the market leading Australia supermarket chain, serving in the top role from 2015 to 2024. Earlier, he was managing director of Woolworths Liquor (Endeavour Group), CEO of Cellarmasters Group, and CFO of Tyro Payments, and spent 15 years with The Boston Consulting Group, specializing in retail and corporate development.

Banducci’s appointment to TEG signaled a switch-up at the helm with long-standing CEO Geoff Jones transitioning into the chairmanship.

Hoy has been climbing the ladder at TEG since he joined the company in January 2019. In 2023, he was elevated from managing director at Ticketek to his most recent group-wide role as COO and head of global touring at TEG.

“TEG exists to partner with the world’s best venues, promoters and rightsholders to connect fans to the moments that matter most and I am honored to lead such an entrepreneurial business and team,” Hoy said on his promotion to group CEO.

TEG (or Ticketek Entertainment Group) is owned by Silver Lake, the U.S.-based private equity company which specializes in technology investing, through a deal struck in 2019 worth more than A$1.3 billion.

Based in Sydney, TEG’s empire collects the ticketing powerhouse Ticketek, TEG Dainty, TEG Van Egmond, plus TEG Live, TEG Sport, TEG Experiences, Ovation and other businesses.

Founded in 1979, Ticketek’s Australian presence sells over 23 million tickets to more than 20,000 events each year, according to a statement on its official website, including concerts at ANZ Stadium, Qudos Bank Arena, Rod Laver Arena, Hisense Arena, Suncorp Stadium, and Brisbane Entertainment Centre. Today, the ticketing specialist operates seven country offices, including the United Kingdom, Singapore, Malaysia and the Philippines.