WiseTech Appoints Embattled Founder at Executive Chairman -- Update

Dow Jones

02-26

By Stuart Condie

SYDNEY--Australia's WiseTech Global appointed founder Richard White as executive chairman, four months after he quit as chief executive amid a board review into his behavior and company governance.

The logistics-software developer, which is Australia's largest listed tech company by market capitalization, said Wednesday that White would oversee the search for his permanent replacement as CEO.

White will also lead WiseTech's product-development and growth strategy, it added.

Andrew Cartledge has been interim CEO since White stepped down as CEO amid media allegations into his behavior. Cartledge delayed his planned retirement as chief financial officer to step in for WiseTech's largest shareholder.

At the time, WiseTech said that White would take on a consultancy role. This month, it said that terms of the role had not been finalized. WiseTech's chairman and three directors then quit this week due to what the company said were intractable differences over White's role.

On Wednesday, WiseTech said it expects to appoint at least one new director within four weeks, and that it will consult shareholders on the skills they would like to see on the board.

White's Realwise Holdings vehicle holds a 37% stake in WiseTech.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

February 25, 2025 18:17 ET (23:17 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Cartledge delayed his planned retirement as chief financial officer to step in for WiseTech's largest shareholder. \n</p>\n<p>\n  At the time, WiseTech said that White would take on a consultancy role. This month, it said that terms of the role had not been finalized. 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Cartledge delayed his planned retirement as chief financial officer to step in for WiseTech's largest shareholder.At the time, WiseTech said that White would take on a consultancy role. This month, it said that terms of the role had not been finalized. 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Cartledge delayed his planned retirement as chief financial officer to step in for WiseTech's largest shareholder. \n\n\n  At the time, WiseTech said that White would take on a consultancy role. This month, it said that terms of the role had not been finalized. WiseTech's chairman and three directors then quit this week due to what the company said were intractable differences over White's role. \n\n\n  On Wednesday, WiseTech said it expects to appoint at least one new director within four weeks, and that it will consult shareholders on the skills they would like to see on the board. \n\n\n  White's Realwise Holdings vehicle holds a 37% stake in WiseTech. \n\n\n \n\n\n  Write to Stuart Condie at stuart.condie@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 25, 2025 18:17 ET (23:17 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":1}}}