By Stuart Condie

SYDNEY--WiseTech Global's Richard White said he plans to stick around at the logistics-software developer "for the long haul" after re-exerting control of the company he co-founded.

Australia's most valuable locally listed tech company appointed White as executive chairman four months after he stepped down as chief executive amid a board review into his behavior and company governance.

Wednesday's move came two days after WiseTech's chairman and three other directors quit due to what the company said were intractable differences over White's continuing role.

The management turmoil, which included the proposal that White would become a full-time consultant to WiseTech, had prompted questions from analysts about the effectiveness of the company's governance and the absence of any visible succession planning.

White, who is also WiseTech's largest shareholder, is widely viewed as key to the company's track record and continued growth.

Recent history suggests that WiseTech's value is tightly linked to the involvement of White, a former guitar technician with rock bands including AC/DC.

The stock tumbled 19% over the four days that culminated in his resignation, lost 12% when it cited the move for a subsequent guidance downgrade, and then plummeted 20% when it emerged from a two-day trading halt at the start of this week.

Shares rose as much as 8.4% on Wednesday, when WiseTech also announced a 38% rise in net profit for the first half of its 2025 fiscal year.

"I'm fully engaged and here for the long haul with invigorated vision, passion and a trove of new ideas to continue to build the company," White said on an investor call. "You have my absolute commitment to do everything within my power and ability to accelerate the business you have invested in."

WiseTech said that White will now oversee the search for his permanent replacement as CEO as well as lead product-development and growth strategy.

Macquarie analysts wrote in a note to clients that White's continued involvement was a positive signal for product quality.

The company expects to appoint at least one new director within four weeks and promises to consult shareholders on the skills it would like to see on the board.

White's RealWise Holdings vehicle holds a 37% stake in WiseTech. Some analysts have wondered about the caliber of any potential CEO prepared to work with White closely.

For now, WiseTech's customers seem largely unconcerned. Andrew Cartledge, who delayed his retirement as chief financial officer to serve as interim CEO over the past four months, said there had been no negative feedback.

WiseTech signed agreements with Nippon Express and Logisteed early in its fiscal second half. It now counts 16 of the world's 25 largest freight forwarders as customers.

"In the customers' mind, the value that we create for them is very substantial and they have asked time and time again over the last six months: 'What does the future hold for the product? What does the future hold for you, Richard? Are we going to see the company on a continuous trajectory?'" White said.

"They don't think about these governance issues in Australia. They think about what is right for them, for their product, for their business, for the long term."

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

(END) Dow Jones Newswires

February 25, 2025 22:08 ET (03:08 GMT)

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