WiseTech CEO Richard White is stepping down after a series of allegations of inappropriate behavior against the billionaire

The company’s Chief Financial Officer, Andrew Cartledge, will act as interim CEO of WiseTech, while deputy CFO Caroline Pham will serve as CFO for this period.

Media reports of the purchase of a multi-million dollar home for a female staffer and an allegation of bullying and harassment by a former global executive caused the company’s share price to plummet by about 20 percent last week.

The founder of WiseTech denies any wrongdoing.

Mr. White will take a short period of leave and then transition to a new role, WiseTech’s board announced.

“It has been a challenging time for me personally, my family and close friends, and for the business I have built and truly love,” the WiseTech founder said in a statement to the ASX.

“I want to assure everyone who has supported WiseTech, as customers, colleagues and shareholders, that I remain absolutely committed to seeing this incredible organization continue to thrive and grow in the years to come.”

According to the company’s board, Mr. White will participate in WiseTech’s annual general meeting – in less than a month – and its Investor Day in early December.

The tech billionaire last week stepped away from public appearances at the Tech Council of Australia, where he sits on the board alongside business elites from Tesla, Canva and Atlassian.

TCA said the move was made to “ensure there are no distractions” in a note sent to members.

The board also noted that it continues to “closely review and monitor” the allegations against Mr. White.

Many details about Mr White’s personal life emerged after he pursued ex-lover and welfare entrepreneur Linda Rogan in court for more than $90,000 worth of luxury furnishings for an eastern Sydney home the billionaire bought for her to live in.

During the trial, Ms Rogan claimed the billionaire expected sex in return for his investment in her company.

The judiciary put a spotlight on Mr White’s leadership and it has since been reported that the billionaire allegedly bought a waterfront mansion worth $7 million for an ex-employee he was dating, alongside a claim that he had bullied another employee.

He made no public comment on the scandals when he announced his decision to resign.

Mr White’s public dramas have been damaging to WiseTech’s share price.

The company is currently trading 27 percent lower than at the start of the month, wiping out about $9 billion from the company’s total value and about $3 billion from Mr. White’s 34 percent stake.

Richard Dammery, Chairman of WiseTech, noted the challenges facing the company and addressed an internal review currently underway.

“The past few weeks have been challenging and uncertain for our people,” he said in a press release.

“We recognize this and have provided additional support. As a board we are highly committed and focused on completing our review to support the continued success of the company.”

Mr. White will continue to earn his $1 million annual salary despite his resignation.