Regulatory scrutiny and public attention intensified in late 2025 after regulators reviewed White’s share sales and related disclosures.

WiseTech notes a board-commissioned review into media-reported allegations was conducted with external law firms and disclosed to the market.

The leadership change comes as WiseTech’s stock tumbled around 75% over the past year amid ongoing investigations and media scrutiny.

WiseTech’s founder and former CEO has stepped down as independent chair, with Raelene Murphy taking over the role immediately while White remains on the board as an executive director and chief innovation officer.

Murphy, who joined the board in January and became lead independent director in May, frames White’s media coverage as misleading and underscores long-term succession planning as a board priority.

WiseTech had previously appointed Murphy as independent chair effective from the start of the year, following her designation as lead independent director.

Despite a rally on the news, WiseTech’s shares remain deeply discounted, about 70% below late-2024 levels amid investor skepticism.

Regulators at the Australian Securities and Investments Commission are investigating White’s share trades totaling over A$200 million during a company blackout period, with White saying he acted as a consultant and sought legal advice.

Investors and major funds have pressed for board reforms as governance concerns gain prominence among shareholders.

The resignation follows months of governance scrutiny tied to allegations and police investigations into White’s conduct, contributing to negative sentiment and heavy short selling.

AFA authorities are also examining an earlier complaint alleging White sought a company letterhead to sponsor a visa for a non-existent role, which White denies.

The broader governance crisis has raised questions about board independence and alignment with investor expectations, impacting market value.