Richard White, co-founder of the software company WiseTech, is stepping down as executive chairman as he faces criminal investigations into allegations of exploiting a worker's financial and visa status for sexual favors. White will remain on the board as an executive director and continue his role as chief innovation officer. Raelene Murphy has been appointed as the board's new executive chair, effective immediately.
"Recent personal media attention is creating an unnecessary distraction from the strength of WiseTech's business," White said in a statement on Tuesday. "At this time, the senior management team, Zubin (chief executive Zubin Appoo) and I should be singularly focused on the execution of the company's growth strategy."
WiseTech shares saw a surge of about nine percent to $38.57 in early trading following the announcement. The company's stock had previously plunged in June after reports emerged that the Australian Federal Police (AFP) were investigating allegations that White coerced a Brazilian cleaner into a sexual relationship. The AFP was also reportedly investigating claims that White provided false information on a visa application.
White has strenuously and unequivocally denied the allegations. "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," he stated.
Murphy, the incoming independent chair, defended White, stating, "My personal experience working with Richard is totally at odds with media reports. I have found him to be an incredibly hardworking, focused and committed founder who has built a leading global technology business with enormous potential to continue to grow stronger and thrive."
This is not the first time White has faced scrutiny. In October 2025, AFP and Australian Securities and Investments Commission officers raided WiseTech offices concerning allegations that White and three employees sold more than $200 million in shares during prohibited blackout periods. WiseTech stated at the time that it would fully cooperate with any investigation and noted that no charges had been laid against any person or the company. An earlier external review into separate claims of misappropriation of funds and allegations of inappropriate relationships with staff had cleared White of misconduct.