Four independent non-executive Directors serving on the board of Australian logistics software company WiseTech Global have resigned.
Lisa Brock, Richard Dammery, Michael Malone and Fiona Pak-Poy will depart the roles following the signing of the company’s half-year financial report and release of half-year results to the ASX on Wednesday 26 February.
The quartet has resigned due to “intractable differences in the Board and differing views around the ongoing role of Founder and Founding CEO Richard White”.
White initially stepped down as CEO in October 2024 following the details of a personal legal battle becoming public.
However, he has remained with the company on a 10-year term under the title ‘Founder and Founding CEO’.
In a response to an ASX query letter, WiseTech Global says the key terms of White’s new role were agreed when it was announced he would be remaining with the company despite the ongoing legal battle.
“The key terms of Mr White’s engagement in the F&FCEO role had been agreed and, given the materiality of that information, were immediately announced,” the company says.
“It was the board’s intention to formalise and document the fuller details of the engagement in due course.
“The Chair of the Board and Mr White had agreed the key terms of Mr White’s consulting arrangement. The key terms were recorded in the draft announcement, which was reviewed by Mr White and other members of the board.
“The board determined it was appropriate for these terms to be immediately announced in the circumstances at the time, noting the potential materiality of Mr White stepping into a new role and the importance of transparency relating to the new arrangement.”
White co-founded WiseTech in 1994, and the company has since grown to provide software solutions to over 17,000 logistics company across the globe, including 46 of the top 50 third-party logistics providers and each of the 25 largest freight forwarders in the world.
Former independent director Mike Gregg will return to the board following the exodus. He previously served between 2006 and 2022.
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