Scandal-Plagued Billionaire White Retakes Control of WiseTech

WiseTech Global Ltd., the Australian logistics software company, has seen its founder and billionaire CEO, Richard White, retake a more active role within the organization following a board exodus and ongoing allegations of inappropriate behavior. The company's shares plunged by more than 17% after resuming trade following a halt, indicating a loss of investor confidence in the wake of the developments.

White, who co-founded the company in 1994, stepped down as CEO in October 2022 after settling a civil lawsuit with wellness entrepreneur Linda Rogan. However, he remained with the company on a full-time basis, under the title "founder and founding CEO," for at least a 10-year term on his existing pay of $1 million a year. The company has been dealing with the fallout from White's alleged inappropriate behavior since late 2020, with multiple allegations surfacing in the media.

On February 26, 2025, four independent directors, including the chair, resigned from the WiseTech board, citing "intractable differences" among the board and "differing views" on White's continued engagement with the company. The board had appointed law firms to conduct a review into allegations that White failed to disclose personal relationships in the workplace and engaged in intimidation and bullying. The company confirmed that it had received two complaints against White, one from an employee and one from a supplier to the company.

The board exodus has raised concerns about the company's culture and employee morale, given the previous allegations and the ongoing review into White's conduct. Investors, particularly those who have expressed concerns about White's behavior, may react with skepticism or unease to his return to a more active role at the company. The impact on WiseTech's share price and market capitalization will depend on investors' confidence in the company's ability to address the concerns and move forward.

WiseTech's financial performance and strategic initiatives, such as its 3P strategy (Product, Penetration, and Profitability), could help to reassure investors and maintain the company's market capitalization. However, if investors perceive that the company has not adequately addressed the concerns surrounding White's conduct, they may sell their shares, leading to a decrease in WiseTech's share price and market capitalization.

In conclusion, Richard White's return to a more active role at WiseTech Global has raised concerns about the company's culture, employee morale, and investor confidence. The impact on the company's share price and market capitalization will depend on investors' perception of the company's ability to address the concerns and move forward. WiseTech's financial performance and strategic initiatives will play a crucial role in maintaining investor confidence and ensuring the company's continued success in the global logistics software market.