WiseTech founder Richard White is stepping down as CEO of a global tech company amid allegations

Under fire WiseTech Global CEO Richard White has bowed to pressure and will retire from the company he co-founded, amid a barrage of allegations that have dragged the software technology company’s share price through the mud.

In a statement to the Australian Securities Exchange late on Thursday afternoon entitled “Key Business Update”, WiseTech said its board had – at Mr White’s request – agreed to his resignation as director and CEO with immediate effect.

He will also take a short period of leave and transition to a new role at the company he has led for three decades.

“It has been a challenging time for me personally, my family and close friends, and for the business I have built and truly love,” Mr White said.

“I would like 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.

“WiseTech Chairman Richard Dammery and I have been discussing the evolution of the company and the succession to the role of CEO for months.

“Since WiseTech is a product-driven innovator, it follows that focusing my passion, energy and motivation on creating breakthrough product developments that solve the deep problems in the complex world of global logistics is my highest and best use.

“I am convinced that this is the right time for me to make this transition and the board agrees. This new role will allow me to focus on product and business growth to create even greater value for shareholders and customers in the long term.”

The shock announcement came as the federal corporate watchdog confirmed it was monitoring the drama surrounding the billionaire founder’s alleged personal affairs.

Shares of Wisetech fell more than 13 per cent on Monday after detailed media reports drew links between Mr White’s legal battle in federal court with Sydney beautician Linda Rogan and another alleged affair that was the subject of a 2020 investigation by the board of WiseTech.

It was also claimed that he had signed at least two non-disclosure agreements with former lovers.

Ms Rogan filed last month to undo a bankruptcy notice Mr White served on her in August, demanding she pay him back $91,000.

She said she spent that money furnishing a luxury property in Vaucluse that Mr White bought as her home when they were supposedly lovers in 2022.

She claimed in a Federal Court affidavit that Mr. White said he “wanted her to hire an interior designer to decorate the house and a builder to renovate the property.”

She claimed she was locked out in November 2022 after Mr White’s current wife, Sydney lawyer Zena Nasser, learned of their secret relationship.

Ms. Nasser had introduced her to Mr. White in July that year with the intention that he would help buy out her partners in the Bionik Wellness venture.

Mr. White had told her, “I’m an entrepreneur. I have a company, WiseTech. I am a billionaire.”

She claimed their relationship turned sexual after he arranged for her to fly to New York to meet and discovered on arrival at a Park Lane Hotel that only one room had been booked.

“I realized that Richard expected me to have a sexual relationship with him to fulfill the promise that he would invest in my company,” she said.

Mr White fought Ms Rogan’s application in the Federal Court and had been granted non-disclosure orders over parts of her case ahead of the planned confrontation on February 6.

Documents ending the action were filed in court late Monday without the terms of the peace agreements being made public.

Mr Dammery described Mr White as “a true giant of the Australian technology industry”.

“Richard has consistently demonstrated a rare combination of foresight, intellect, ability and ambition,” he said.

“All great entrepreneurs achieve what others think impossible, and Richard has certainly done this at WiseTech.

“By proposing this role change, Richard has put the company and its shareholders first, and has taken the logical next step in developing his role as founder to best add value to WiseTech in the long term .”

The announcement came after the close of trading on the ASX. The share price fell another 6.3 percent on Thursday, bringing the total decline in the past five trading days to 20.5 percent.