Market Chatter: WiseTech Global Seeks Shareholder Views on Governance

MT Newswires Live
03-14

WiseTech Global (ASX:WTC) appointed consultancy firm Sodali & Co to conduct an investor survey on its governance practices, following the resignation of its chairman and three independent directors, clearing the way for founder Richard White's return as executive chairman, the Australian Financial Review reported Thursday.

White's comeback follows controversy over his personal life, including allegations of inappropriate conduct linked to an attempt to bankrupt a former lover.

A board review into White's behavior sparked disputes over its disclosure, prompting last month's director exit.

Over the past week, Sodali has conducted confidential interviews with major shareholders, with results expected to guide the board's decisions, per the report.

WiseTech currently breaches Australian Securities Exchange (ASX) rules requiring audit committees to have at least three non-executive directors but plans to address this within four weeks of releasing its February results.

The company did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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