WiseTech Global (ASX: WTC) founder Richard White has resigned as executive chair of the logistics software giant, with independent director Raelene Murphy appointed to replace him.
The move is seen as an attempt by the billionaire entrepreneur to draw a line under months of personal controversies that have dogged the company and severely impacted its share price.
White, who founded WiseTech in 1994, remains on the board as an executive director and retains the title of chief innovation officer, a role focused on WiseTech's product and technology strategy.
“Recent personal media attention is creating an unnecessary distraction from the strength of WiseTech’s business," says White in a statement to the ASX today.
"At this time, the senior management team, Zubin (CEO Zubin Appoo) and I should be singularly focused on the execution of the company’s growth strategy.
“As I have stated previously, I strenuously and unequivocally deny the recent allegations in the media.
"Further, I am conscious that personal attacks on me in the media that are unconnected to the performance of the company nevertheless have the potential to encourage short selling activity."
The resignation follows a denial by the company and White over media reports in June that the Australian Federal Police were undertaking an investigation into White via its human exploitation taskforce.
It also comes on the heels of an earlier controversy stemming from White's personal life exposed via court documents in 2024 that revealed an ugly spat between White and a former girlfriend.
That turbulence led White to step down as CEO in November 2024, with the role handed to Appoo in July last year. However, five months earlier White had assumed the role of executive chair at WiseTech.
Over the past year, shares in WiseTech have fallen from above $120 each last July to a low of $28.76 in June this year with much of the fall tied to White’s own personal controversies.
White is hoping his resignation as executive chair will get WiseTech back on track, with today's announcement pushing the company's shares $2 higher to $37.37.
“In my role as chief innovation officer, I remain totally committed, and focused on execution of WiseTech’s growth strategy," says White.
"I will continue to provide my full support to the Board, to WiseTech’s CEO, Zubin, and to the WiseTech senior management team and product leaders across the company.”
Murphy, who previously served as an independent non-executive director of WiseTech, says since her appointment to the board she has "proactively engaged with shareholders and shared their strong feedback with Richard and the board".
“My personal experience working with Richard is totally at odds with media reports," says Murphy.
"I have found him to be an incredibly hardworking, focused and committed founder who has built a leading global technology business with enormous potential to continue to grow stronger and thrive.
“As a board, a key priority is to drive long term succession planning, whilst retaining the depth of experience, value and strategic insights that Richard brings, which he will continue to provide in his role as chief innovation officer and as an executive director.”
WiseTech adds that the board and its advisers "will continue to monitor and consider any developments on matters reported in the media".
Despite his resignation, White remains the largest shareholder of WiseTech, the company he built into one of Australia's largest technology firms.
WiseTech reported first-half FY26 total revenue of US$672 million, up 76 per cent on a reported basis and 7 per cent organically.
The company is also targeting FY26 revenue of between US$1.39 billion to US$1.44 billion, representing growth of between 79 and 85 per cent.
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