WiseTech founder Richard White has given up the chairmanship of the logistics software company he built, handing the role to independent director Raelene Murphy, as a plummeting share price and allegations about his personal life pile pressure on the billionaire.
The company told the ASX on Tuesday that Murphy, who joined the board in January and became lead independent director in May, would take over as independent chair with immediate effect. White will remain on the board as an executive director and keep his role as chief innovation officer.
“Recent personal media attention is creating an unnecessary distraction from the strength of WiseTech’s business,” White said in a statement.
“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.”
David Swan is the technology editor for The Age and The Sydney Morning Herald. He was previously technology editor for The Australian newspaper.Connect via X or email.From our partners
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