The 18-month reign of WiseTech Global’s Richard White, as chair of the ASX-listed tech company, is over, with its billionaire founder describing ongoing media coverage of his personal life as an “unnecessary distraction”.
Independent director Raelene Murphy, who only joined the WiseTech board in January, will replace him as chair.
White remains a director and continues in his executive role as chief innovation officer.
The change comes after WiseTech (ASX: WTC) share price plunged more than 75% in the past 12 months to a five-year low under $30, amid a string of reports of investigations into the founder and former CEO.
Shares in the logistics software company rallied more that 9% on Tuesday morning after it told the market he was stepping down.
Last month, the Nine newspapers reported that the AFP’s human exploitation taskforce launched an investigation into White following a complaint by the former CEO of anti-money laundering firm Kyckr, which the billionaire acquired in late 2022 for $43.5 milllion.
Allegations denied
White denied the allegation and any knowledge of an investigation, but said today that “recent personal media attention is creating an unnecessary distraction from the strength of WiseTech’s business” and could attract short-sellers, who’ve previously targeted the company in recent years.
“As I have stated previously, I strenuously and unequivocally deny the recent allegations in the media,” White said.
“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.”
Former Kyckr CEO, Kathy Phelan, is suing White over her dismissal from the business in June last year, and made allegations about White’s role in visa arrangements for a former employee, a Brazilian national who launched her own legal action against the WiseTech founder last year, alleging White gave her financial and visa support in return for sexual favours. That matter was settled out of court in April 2025.
A two-year saga
It’s been a tumultuous 20 months at WiseTech since White’s private life and subsequent court battles saw him resign in October 2024 as CEO of the business he founded 30 years ago, as well as leaving the board of industry lobby group The Tech Council of Australia.
The unravelling began in a fight over $92,000 worth of furniture with a woman who alleged she’d been a sexual relationship with White. The matter settled, but further allegations about his personal life and behaviour began to emerge, and WiseTech’s falling share price wiped billions from the company’s market cap.
The board launched a review and external investigations – reiterating today that “those findings were considered by the Board at that time” – but at the time, four WiseTech directors, including the then chair, resigned before White returned as executive chair.
While an external legal review found “no evidence” of policy breaches by White, a 9-page update to the ASX, released after he took charge of the board found that White “made inaccurate and incomplete disclosures concerning the nature and duration of his relationship” involving two employees. The board decided to take no action against its chairman.
In October 2025, White was back in the headlines after officials from corporate regulator, ASIC, and Australian Federal Police officers raided WiseTech’s Sydney headquarters over concerns about share sales by the founder Richard White and three others.
Job cuts
Then in February WiseTech announced it would cut 2000 jobs nearly 30% of its workforce, in favour of AI.
White subsequently called in police after threats of violence were allegedly made against CEO Zubin Appoo, who replaced the founder in the role in July 2025.
New chair Raelene Murphy said her “personal experience working with Richard is totally at odds with media reports” in today’s market announcement.
“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,” she said.
“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.”
The WiseTech statement added that alongside “long-term executive succession planning”, the search for an additional independent director continues.
