Australia's WiseTech co-founder Richard White steps down as executive chair

• Raelene Murphy, who joined the board in early 2026 and became lead independent director in May, takes over as independent chair
• White denies media allegations and warns that personal attacks 'unconnected to company performance' could encourage short-selling activity
• RBC Capital Markets notes the board improvements are positive but the market will likely want evidence of independent operations before any meaningful re-rating

WiseTech Global Co-Founder Steps Down as Executive Chair Amid Media Scrutiny

WiseTech Global announced Tuesday that co-founder Richard White has stepped down as executive chair, effective immediately, with Raelene Murphy assuming the role of independent chair. Murphy, who joined the Australian logistics software provider's board in January 2024 and became lead independent director in May, will now lead the board.

White cited "recent personal media attention" as creating an unnecessary distraction from the company's business performance. He "strenuously and unequivocally" denied recent media allegations and expressed concern that personal attacks could encourage short-selling activity against the company. Late June media reports suggested an investigation involving White, though WiseTech stated any investigation concerned White in his personal capacity and the company was unaware of details outlined in media reports.

Murphy defended White, stating her personal experience working with him contradicted media reports. The company confirmed its board and advisers would continue monitoring developments related to media reports.

RBC Capital Markets analysts noted that while structural improvements in board composition are positive, the market will likely require evidence that the refreshed board, CEO, and Chief Innovation Officer operate independently before any meaningful re-rating occurs.

The leadership change comes as WiseTech, a prominent player in the logistics software sector, navigates reputational challenges. The company has not disclosed specific details about the allegations or their nature. White's departure marks a significant shift for the ASX-listed company he co-founded, though he remains involved with the organization in an unspecified capacity.