WiseTech founder Richard White has given up the chairmanship of the logistics software company he built, handing the role to independent director Raelene Murphy, as a plummeting share price and allegations about his personal life pile pressure on the billionaire.
The company told the ASX on Tuesday that Murphy, who joined the board in January and became lead independent director in May, would take over as independent chair with immediate effect. White will remain on the board as an executive director and keep his role as chief innovation officer.
βRecent personal media attention is creating an unnecessary distraction from the strength of WiseTechβs business,β White said in a statement.
βAs I have stated previously, I strenuously and unequivocally deny the recent allegations in the media. Further, I am conscious that personal attacks on me in the media that are unconnected to the performance of the company nevertheless have the potential to encourage short selling activity.β
As first revealed by this masthead, White is being investigated by the Australian Federal Policeβs human exploitation taskforce over claims he coerced a former WiseTech cleaner into a sexual relationship and provided false information to secure her a visa. He is separately under investigation by the corporate regulator over more than $200 million in share sales, and WiseTech stock has lost about two-thirds of its value in a year.
WiseTech shares rose 7 per cent to $38.83 by 10.30am on Tuesday after the announcement. The company was contacted for further comment.
Murphy, who was appointed lead independent director in May, said her experience of working with White was βtotally at odds with media reportsβ and described him as a hardworking and committed founder. She said long-term succession planning was now a board priority while the company retained Whiteβs experience as chief innovation officer.
The AFP taskforce launched its investigation this year after a complaint from Kathy Phelan, former chief executive of Kyckr, an anti-money laundering compliance firm controlled by Whiteβs private company, RealWise. Phelan alleges White asked her for a company letterhead in December 2023, saying he needed it for tax purposes, then used it to create documentation sponsoring the woman for a visa in a role that did not exist. White has denied the allegations. The woman, who settled an earlier claim against White without any admissions, declined to comment, as did Phelan. This masthead is not suggesting White is guilty of human exploitation or providing false visa documents.
The Australian Securities and Investments Commission is separately investigating share trades worth more than $200 million that White made between late December 2024 and February 2025, during a company blackout period. White has said he was acting as a consultant at the time and had obtained legal advice.
The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.
David Swan is the technology editor for The Age and The Sydney Morning Herald. He was previously technology editor for The Australian newspaper.Connect via X or email.