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.
Wisetech shares plunged more than 13 per cent on Monday as detailed media reports drew links between Mr White’s Federal Court legal battle with Sydney beautician Linda Rogan and another alleged affair that was subject to a WiseTech board probe in 2020. It was also alleged he had signed at least two non-disclosure agreements with former lovers. Ms Rogan applied last month to overturn a bankruptcy notice that Mr White served on her in August demanding she repay him $91,0000.