WiseTech Global Names Independent Chair as Executive Chairman Steps Down

Richard White stepped down as executive chairman of WiseTech Global effective immediately. Raelene Murphy, who joined the board in January 2026 and was named lead independent director in May 2026, was appointed independent chair on Tuesday. White said recent personal media attention is creating an unnecessary distraction from the strength of WiseTech’s business.

He added that he strenuously and unequivocally denies recent media allegations. Murphy said her personal experience working with White is totally at odds with media reports. WiseTech Global shares rose by as much as 10.6 percent on Tuesday, reaching nearly $27 USD per share and A$39.12, the highest level since June 15.

The company was valued at more than $40 billion in July 2025 but less than $13 billion on Tuesday after shares lost nearly 70 percent of their value since late 2024. White relinquished the CEO role in 2024 and was reinstated to the executive chair position in February 2025. Four directors resigned over whether he should continue in an active role.

The company began laying off roughly 30 percent of its workforce in May. White said he will continue concentrating on WiseTech’s growth strategy in his role as chief innovation officer. The Australian Federal Police’s human exploitation task force launched an investigation into White earlier this year.