Under-fire WiseTech Global chief executive Richard White has bowed to pressure and will stand down from the company he co-founded amid a flurry of allegations that have dragged the software technology company’s share price through the mud. In a statement to the Australian Securities Exchange late on Thursday afternoon simply tilted “Key Business Update”, WiseTech said the board had agreed — following Mr White’s request — that he will stand down as a director and as CEO with immediate effect. He will also take a short period of leave and transition into a new role with the company that he has led for 30 years.
Know the news with the 7NEWS app: Download today “It has been a challenging time for me personally, my family and close friends, and for the company that I have built and truly love,” Mr White said. “I want to assure all those who have supported WiseTech, as customers, colleagues, and shareholders, that I remain absolutely committed to seeing this incredible organisation continue to thrive and grow in the coming years. “The chair of WiseTech Richard Dammery and I have been discussing the evolution of the company and succession of the CEO role for many months.
“As WiseTech is a product-led innovator, it follows that directing my passion, energy, and motivation, to creation of breakthrough product developments that solve the deep problems found in the complex world of global logistics is my highest and best use. “I strongly believe that now is the r.