WiseTech shares rise after Richard White resigns as executive chair amid police investigation

Rise in share price adds nearly $1bn to tech giant’s market value while White continues on as a board director and chief innovation officer Get our breaking news email, free app or daily news podcast Richard White has resigned as executive chair of WiseTech, the Australian tech company he co-founded, denying allegations he exploited a worker’s financial and visa status for sex. White will stay on as a board director and chief innovation officer, with Raelene Murphy replacing him as chair, the company announced on Tuesday. The announcement offered a refresh for the embattled software company, sending its share price up 8.1% on Tuesday afternoon, adding nearly $1bn to its market value. WiseTech had collapsed in value over the prior 12 months – the company was worth more than $40bn in July 2025 but less than $13bn on Tuesday. Investors sold out in June after the Nine newspapers reported police were investigating allegations White coerced a cleaner into a sexual relationship and provided false information for her visa application. In a WiseTech statement on Tuesday, White rejected the claims and said they could encourage traders to bet against the company. “Recent personal media attent