Richard White resigns as WiseTech chair amid personal controversy

The company moved quickly to fill the leadership gap, appointing Raelene Murphy as the new independent chair. Murphy, who joined the board earlier this year and served as lead independent director since May, expressed her continued confidence in the founder’s character despite the ongoing controversy. Following the announcement, WiseTech shares surged by as much as 10.6% to reach A$39.12, marking the stock’s strongest performance in over three weeks.

White characterized the recent media coverage as a series of personal attacks unconnected to his professional performance, though he acknowledged they have fueled short-selling activity. He continues to "strenuously and unequivocally" deny allegations that he exploited a woman’s immigration status for sexual purposes and provided false information on a visa application—claims currently linked to reports of an Australian Federal Police investigation. While the company maintains it has no direct knowledge of an official probe, the leadership transition serves as a tactical effort to decouple the business from White’s private life. Analysts at RBC Capital Markets noted that while the board restructuring is a step forward, investors will be looking for clear evidence of independent governance before committing to a full recovery of the stock, which remains down nearly 70% from its late-2024 peak.