• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts

2

Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it

3

Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts

1

U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts

2

Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it

3

Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
TechAustralia
Asia

Scandal-plagued billionaire White retakes control of WiseTech

By
Angus Whitley
Angus Whitley
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Angus Whitley
Angus Whitley
and
Bloomberg
Bloomberg
Down Arrow Button Icon
February 26, 2025, 3:13 AM ET
Richard White has used his 37% stake in the company to muscle his way back into control.
Richard White has used his 37% stake in the company to muscle his way back into control. Brent Lewin—Bloomberg via Getty Images
Add Fortune on Google for similar content.

“I’m here for the long haul.”

Recommended Video

With those words, Richard White on Wednesday stamped his renewed authority over WiseTech Global Ltd. following months of damaging revelations about his behavior.

The billionaire’s appointment as executive chairman of the Australian freight-software giant, four months after he quit as chief executive officer, caps a remarkable series of events that have whipsawed the shares at every turn. 

White’s future looked fragile in October. Under siege after a string of media reports about his conduct and relationships, he stepped down as CEO and agreed to a role as an external consultant of the company he founded more than 30 years ago and grew into one of Australia’s biggest listed firms. 

This month, yet more accusations against him surfaced, widening a board investigation and threatening to further destabilize the company. The drama reached its climax two days ago when almost every director resigned, citing “intractable differences” over White’s role. 

In effect, White has used his 37% stake in the company to muscle his way back into control. 

Now that White’s back at the helm, he’s downplaying the relevance of governance, and spearheading the most critical elements of any company. White is overseeing product development and growth, and leading the search for a permanent CEO. That makes him the primary authority on both executive succession and WiseTech’s future as a business.

“I am fully engaged,” White told analysts on a call less than an hour after his appointment was announced. He assured them of his “absolute commitment” to WiseTech. 

WiseTech shares, which have soared and plunged on every twist and turn in the saga, climbed as much as 8.4% in early Sydney on Wednesday, a reflection of White’s importance to WiseTech in the eyes of investors.  

The shares pared some of their initial gains to be up 2% at A$96.46 at 12:45 p.m. local time, valuing the company at about A$32 billion ($20 billion).

On Wednesday’s widely anticipated conference call, most analysts focused on the granular details of WiseTech’s first-half results, which showed net income rose 38%. The tumultuous developments of the past few months were mostly ignored. The few who asked questions about the scandal and the board’s implosion received little from White, who was joined by interim CEO Andrew Cartledge and Caroline Pham, the interim chief financial officer.

One analyst asked if the board—or what’s left of it—would make its governance review public. Cartledge had nothing to add. Have any senior WiseTech managers quit during the upheaval, another asked. No, was the answer. How have customers reacted to the board’s collapse? Hardly at all, came the response.

Media weren’t allowed to ask questions.

Perhaps the most telling summary came from White himself. WiseTech’s customers around the world, he told analysts, care little about governance issues in Australia. They’re more worried about their own businesses and the value WiseTech can create for them, he said.

The allegations against White included claims that he’d paid millions of dollars to a former partner to settle allegations of inappropriate behavior, and that he’d had a relationship with an employee and gifted her a A$7 million house. A former board member accused White of intimidation and bullying, the Australian Financial Review said.

The board’s preliminary findings, released in November, cleared White of bullying or intimidation. It concluded that he “has a direct approach and from time to time is involved in robust and challenging discussions.”

White’s return to the top of WiseTech sends a message to investors about the company’s priorities.

“The potential danger for WiseTech shareholders was a potential loss of talent,” said Matthew Haupt, a portfolio manager at Wilson Asset Management in Sydney, who holds WiseTech shares. “What we got today was an implicit guarantee that personnel won’t be sacrificed for non work-related incidents.”

About the Authors
By Angus Whitley
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Photo of Phoebe Gates
Startups & VentureEntrepreneurs
‘I have a chip on my shoulder.’ Phoebe Gates wants her $185 million AI startup Phia to succeed with ‘no ties to my privilege or my last name’
By Sydney LakeJuly 11, 2026
4 hours ago
usa
Commentary250 Years of Innovation
For 250 years, work defined American identity. That era Is ending
By Keith Ferrazzi and Wendy SmithJuly 11, 2026
4 hours ago
Meta added a privacy-safety feature to its AI glasses but is reportedly testing a ‘super-sensing’ prototype
Big TechMeta
Meta added a privacy-safety feature to its AI glasses but is reportedly testing a ‘super-sensing’ prototype
By Marco Quiroz-GutierrezJuly 11, 2026
5 hours ago
How SK Hynix just pulled off the second-largest U.S. share sale by quietly powering the AI boom
AsiaIPOs
How SK Hynix just pulled off the second-largest U.S. share sale by quietly powering the AI boom
By Nicholas GordonJuly 11, 2026
6 hours ago
Why the 2026 IPO boom is about to broaden beyond AI mega-deals
InvestingFinance
Why the 2026 IPO boom is about to broaden beyond AI mega-deals
By Sheryl EstradaJuly 11, 2026
7 hours ago
Apple accuses OpenAI, and former design star Jony Ive’s io Products firm, of stealing hardware trade secrets in blockbuster lawsuit
Big TechApple
Apple accuses OpenAI, and former design star Jony Ive’s io Products firm, of stealing hardware trade secrets in blockbuster lawsuit
By Sebastian HerreraJuly 10, 2026
16 hours ago

Most Popular

U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts
Economy
U.S. Treasury has borrowed $155 billion every month of this fiscal year—and is now paying $24 billion a week in interest on its debts
By Eleanor PringleJuly 10, 2026
1 day ago
Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it
Middle East
Top Iranian officials admitted to the supreme leader that the U.S. naval blockade was crushing the economy, report says, as Trump eyes reimposing it
By Jason MaJuly 10, 2026
23 hours ago
Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
Success
Billionaire MacKenzie Scott just donated $20 million to support America’s youth mental health, as a fifth of teens struggle with suicidal thoughts
By Emma BurleighJuly 9, 2026
2 days ago
Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
Environment
Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
By Sasha RogelbergJuly 10, 2026
1 day ago
Current price of oil as of July 10, 2026
Personal Finance
Current price of oil as of July 10, 2026
By Joseph HostetlerJuly 10, 2026
1 day ago
Farm groups saved Bayer in court over RoundUp cancer claims. Five days later, Bayer called for tariffs on the ingredient farmers rely on
Economy
Farm groups saved Bayer in court over RoundUp cancer claims. Five days later, Bayer called for tariffs on the ingredient farmers rely on
By Mia OsmonbekovJuly 9, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our and Privacy Policy |  | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.