Billionaire WiseTech co-founder Richard White steps down as chairman amid criminal investigations

Published: 03:28, 7 July 2026 | Updated: 03:30, 7 July 2026 WiseTech co-founder Richard White will step down from his role as executive chair as he denies allegations he exploited a worker's financial and visa status for sex. Mr White will remain on the board as an executive director and continue his role as chief innovation officer, while Raelene Murphy has been appointed the board's executive chair, effective immediately. 'Recent personal media attention is creating an unnecessary distraction from the strength of WiseTech's business,' he 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 plunged in June following reports the Australian Federal Police were probing allegations Mr White had coerced a Brazilian cleaner into a sexual relationship. The AFP was also reportedly investigating allegations he provided false information on a visa application. Mr White denies the allegations. 'As I have stated previously, I strenuously and unequivocally deny the recent allegations in the media,' he said. WiseTech co-founder Richard White will step down from his role as executive chair as he denies allegations he exploited a worker's financial and visa status for sex '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.' WiseTech's share price surged about nine per cent to $38.57 in the first hour of trade after the announcement was published. Incoming independent chair Ms Murphy defended Mr White. 'My personal experience working with Richard is totally at odds with media reports,' she said. '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.' Mr White has been no stranger to controversy in recent years. An external review into separate claims of misappropriation of funds and allegations of inappropriate, close relationships with staff cleared the co-founder of misconduct. AFP and Australian Securities and Investments Commission officers also raided WiseTech offices in October 2025 over allegations Mr White and three employees sold more than $200 million in shares during prohibited blackout periods. At the time, WiseTech vowed to fully co-operate with any investigation and noted no charges had been laid against any person or the company itself. Sorry we are not currently accepting comments on this article.