WiseTech’s Richard White quits after allegedly – Business News
Richard White, the embattled co-founder and govt chairman of Australian software program giant WiseTech Global, is stepping down after allegations emerged that the billionaire businessman exploited a lady’s immigration standing and financial insecurity for intercourse.
Shares of WiseTech – which provides software program that firms can use to handle and streamline logistics – soared by as a lot as 10.6% on the information, reaching practically $27 USD per share.
The Australian Federal Police’s human exploitation activity pressure launched an investigation into White earlier this yr, per a report within the Australian Financial Review, after a grievance from a former govt from one other company White controls – buyer management registry Kyckr.
The Australian Federal Police’s human exploitation activity pressure launched an investigation into White earlier this yr. Bloomberg through Getty Images
White on Tuesday again denied the allegations, including that the claims have develop into an pointless distraction for the company.
“Recent personal media attention is creating an unnecessary distraction from the strength of WiseTech’s business,” White stated, including that he “strenuously and unequivocally” denies latest media allegations.
Media stories final yr stated White allegedly pressured Caroline Heidemann, a Brazilian lady who as soon as labored as a cleaner at WiseTech, into a sexual relationship by leveraging his energy and affect. He additionally allegedly submitted false data as half of her visa utility.
Heidemann raised related allegations final yr earlier than reaching a settlement with White.
The leap in share price comes after different conduct scandals involving White and threats by artificial intelligence have already collapsed the WiseTech’s value. The Sydney-based tech firm was valued at more than $40 billion in July 2025 however much less than $13 billion by Tuesday.
White relinquished the CEO position in 2024 after weeks of separate revelations about his personal life – together with a number of girls alleging he purchased them homes and invested of their companies in exchange for intercourse. A former feminine WiseTech director alleged that White engaged in “bullying and intimidatory behaviours”.
WiseTech provides software program that firms can use to handle and streamline logistics. Fairfax Media
A review commissioned by WiseTech cleared him later that yr of bullying and intimidation claims. He was reinstated to an govt chair place in February 2025 however not earlier than 4 administrators resigned over whether or not he ought to proceed enjoying an lively position on the company.
The software program company has been grappling with strain from artificial intelligence and began shedding roughly 30% of its workforce in May – which have additional hammered its market worth.
Despite the controversy, White stated he’ll proceed concentrating on WiseTech’s growth strategy in his position as chief innovation officer.
The company additionally stated on Tuesday that it had appointed Raelene Murphy as impartial chair. Murphy, who joined the company’s board initially of the yr, was named lead impartial director in May earlier than taking up her new position.
Murphy is now set to develop into chair and issued assist for White in Tuesday’s assertion.
“My personal experience working with Richard is totally at odds with media reports,” Murphy stated. “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.”
