WiseTech Bull Wants at Least Four New Directors -- Market Talk

Dow Jones

02-27

0433 GMT - WiseTech's bull at Citi wants to see the logistics-software provider add at least four new independent directors to bolster company governance. Analyst Siraj Ahmed tells clients that the current directors can't be considered independent due to the length of their tenures and their association with major shareholder Richard White. Appointing five new independent directors would be even better, he reckons. Ahmed writes that White's installation as executive chairman is preferable to a previous proposal for him to be a consultant reporting to a chair, but the structure still doesn't adhere to governance best practice. Citi cuts its target price 7.6% to A$115.00 and keeps a buy rating on the stock, which is down 2.8% at A$93.79. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 26, 2025 23:33 ET (04:33 GMT)

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

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Analyst Siraj Ahmed tells clients that the current directors can't be considered independent due to the length of their tenures and their association with major shareholder Richard White. Appointing five new independent directors would be even better, he reckons. Ahmed writes that White's installation as executive chairman is preferable to a previous proposal for him to be a consultant reporting to a chair, but the structure still doesn't adhere to governance best practice. Citi cuts its target price 7.6% to A$115.00 and keeps a buy rating on the stock, which is down 2.8% at A$93.79. 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Analyst Siraj Ahmed tells clients that the current directors can't be considered independent due to the length of their tenures and their association with major shareholder Richard White. Appointing five new independent directors would be even better, he reckons. Ahmed writes that White's installation as executive chairman is preferable to a previous proposal for him to be a consultant reporting to a chair, but the structure still doesn't adhere to governance best practice. Citi cuts its target price 7.6% to A$115.00 and keeps a buy rating on the stock, which is down 2.8% at A$93.79. 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Analyst Siraj Ahmed tells clients that the current directors can't be considered independent due to the length of their tenures and their association with major shareholder Richard White. Appointing five new independent directors would be even better, he reckons. Ahmed writes that White's installation as executive chairman is preferable to a previous proposal for him to be a consultant reporting to a chair, but the structure still doesn't adhere to governance best practice. Citi cuts its target price 7.6% to A$115.00 and keeps a buy rating on the stock, which is down 2.8% at A$93.79. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WTC.AU":"WISETECH GLOBAL LTD","BK7016":"应用软件","BK7503":"科技股"},"translate_title":"慧智科技牛市希望至少四名新董事——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WTC.AU":0.9},"content_text":"0433 GMT - WiseTech's bull at Citi wants to see the logistics-software provider add at least four new independent directors to bolster company governance. Analyst Siraj Ahmed tells clients that the current directors can't be considered independent due to the length of their tenures and their association with major shareholder Richard White. Appointing five new independent directors would be even better, he reckons. Ahmed writes that White's installation as executive chairman is preferable to a previous proposal for him to be a consultant reporting to a chair, but the structure still doesn't adhere to governance best practice. Citi cuts its target price 7.6% to A$115.00 and keeps a buy rating on the stock, which is down 2.8% at A$93.79. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 26, 2025 23:33 ET (04:33 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":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}