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WiseTech Chair Steps Down Amidst Allegations
7 Jul
Summary
- Co-founder Richard White resigns as executive chair.
- New independent chair Raelene Murphy appointed immediately.
- White denies allegations and cites them as business distraction.
WiseTech Global announced on Tuesday, July 7, 2026, that co-founder Richard White is stepping down as executive chair with immediate effect. Raelene Murphy, who joined the logistics software provider's board earlier in 2026, has been appointed as the new independent chair.
White cited recent personal media attention as creating an "unnecessary distraction" from the company's strengths, while "strenuously and unequivocally" denying the allegations. He also noted that these unconnected personal attacks have the potential to encourage short-selling activity.
Shares of WiseTech experienced a notable increase, rising as much as 10.6% to A$39.12. This surge marks their highest level since June 15, positioning them as top performers within the S&P/ASX 200 index.
Murphy stated her personal experience working with White is contrary to media reports. WiseTech confirmed the Board will continue to monitor media developments. The company's shares had previously lost nearly 70% since allegations regarding White's personal life first emerged in late 2024.
