WiseTech CEO Richard White Resigns Amid Scandal

Richard White steps down following allegations of inappropriate relationships, affecting WiseTech's market value and reputation.

Richard White, founder and CEO of WiseTech, resigned after allegations of secret affairs and inappropriate behavior emerged.
The scandal has led to a significant drop in WiseTech's market value, losing over A$7 billion this week alone.
White will transition to a consulting role within the company after a short leave, focusing on product and business development.
An independent inquiry has been launched by WiseTech's board to investigate the allegations against White.
The situation highlights broader concerns about corporate governance and regulatory effectiveness in Australia.