Overview

• An internal review confirmed Richard White misled the WiseTech board about personal relationships, prompting criticism but no direct consequences for his role.
• Four independent directors resigned in February after citing irreconcilable differences with White over his continued leadership.
• The Australian Securities and Investments Commission (ASIC) has launched a preliminary inquiry into WiseTech, including White's $200 million share sale during a trading blackout.
• WiseTech's stock has dropped over 35% in six months, reflecting investor concerns about the company's governance and leadership stability.
• The company has committed to stricter codes of conduct, with its board emphasizing the importance of avoiding similar ethical breaches in the future.