WiseTech Global’s executive chairman, billionaire Richard White, will face no disciplinary action despite an internal review finding that he misled the board about personal relationships and engaged in unacceptable conduct.
Figure 1: WiseTech Global’s executive chairman, billionaire Richard White [Credit: Reuters/Jason Reed]
Findings of the Board Review
WiseTech commissioned the governance review after allegations surfaced about White’s conduct, including financial settlements and undisclosed relationships with company employees. The partial findings, released by the company, confirm that White provided “incomplete disclosures” about a relationship with an employee and misled the board about aspects of his personal life.
Despite this, the logistics software giant will not release the full report and has decided to take no further action, aside from updating its code of conduct.
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White’s Return to Power
White, who co-founded WiseTech in 1994, owns 36% of the company. He stepped down as CEO in October 2024, only to return as executive chairman in February 2025 after the sudden exit of four independent directors. The departing directors cited “intractable differences” with the rest of the board.
The review, conducted by Seyfarth Shaw, found White was not fully transparent with investigators and misled them regarding the end of a relationship with an employee.
Allegations and Corporate Fallout
White’s governance and personal conduct came under scrutiny after multiple media outlets, including The Australian Financial Review, The Sydney Morning Herald, and The Age, reported on allegations against him.
Key allegations included:
- White paid $2 million to settle a dispute with a former lover.
- He purchased a $7 million property for an employee he was in a relationship with.
- Former director Christine Holman accused him of bullying and intimidation in 2019.
- Three other women recently came forward with claims of inappropriate behaviour.
Despite these serious findings, the company has decided not to remove White from leadership. WiseTech’s board review described his actions as “serious in nature … not acceptable and must not be repeated.”
Governance Concerns and Board Independence
The review found that White failed to disclose conflicts of interest in commercial agreements between WiseTech and a supplier. He personally negotiated a deal with an individual he had been in a relationship with.
Corporate governance expert Helen Bird, a member of the Australian Securities and Investments Commission’s governance panel, criticised WiseTech’s response. She called the company’s handling of the situation a “smack on the hand.”
“He’s not the only shareholder – the rest of the capital of the company, a significant amount, is public investors. This is not good enough when you are taking charge of other people’s money,” Bird said.
Figure 2: Multiple reports revealed allegations against White, including financial settlements, property purchases for a lover, bullying claims, and misconduct accusations. [Sam Mooy]
WiseTech’s board now faces compliance issues with ASX listing rules. The company lacks an independent, three-member audit and risk committee, as required. WiseTech has promised to appoint more independent directors “as a matter of priority.”
However, governance experts question the independence of the board’s new members. Michael Gregg, who returned as lead independent director, previously spent 16 years on the WiseTech board before resigning in 2022. Charles Gibbon, another board member classified as independent, has been with the company since 2006 and served as chairman until 2018.
“I would challenge the interpretation that these directors are truly independent,” Bird said.
White’s Response
White has acknowledged the findings but remains in power. In a statement, he admitted that he should have been more transparent with the board.
“With the benefit of hindsight, he would have more fulsomely disclosed them to the board,” the company said.
Despite his acceptance of the findings, White had previously threatened to sue the independent directors who resigned last month. They had debated whether to release the full governance review, but White claimed some findings were defamatory.
Reputation and Market Impact
The WiseTech scandal has rocked the company’s reputation and raised serious questions about its corporate governance. The lack of immediate disciplinary action has left investors and governance experts concerned about WiseTech’s leadership.
The company has now committed to a more stringent code of conduct, but whether that will be enough to restore trust and stability remains uncertain.
