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

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

3

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
SuccessBillionaires

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, 1:48 PM ET
Richard White, chief executive officer of WiseTech Global Ltd
Richard White, chief executive officer of WiseTech Global Ltd., during the Morgan Stanley Australia Summit in Sydney, Australia, on Wednesday, June 12, 2024. 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.”

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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 Success

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
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Success

nyse
CommentaryEconomics
AI doesn’t end scarcity. It relocates it
By François Candelon, Paul-Louis Andres and Augustin ManchonJuly 24, 2026
2 hours ago
Amazon founder Jeff Bezos
SuccessBillionaires
Amazon’s Jeff Bezos could be the latest American billionaire to buy into European soccer clubs—he’s eyeing up a stake in Liverpool FC
By Emma BurleighJuly 23, 2026
20 hours ago
Sanae Takaichi
Successwork-life balance
Despite Tokyo’s push for a 4-day week for better work-life balance, Japan’s prime minister boasts sleeping just ‘zero to three’ hours a night
By Preston ForeJuly 23, 2026
20 hours ago
Paul Keary (L) and Mike Sutcliff (R).
CommentaryAI agents
Teneo & Thoughtworks CEOs: the AI race will be won with governance, not speed 
By Paul Keary and Mike SutcliffJuly 23, 2026
1 day ago
How GE CEO Larry Culp pulled off the turnaround of the century
MagazineGeneral Electric
How GE CEO Larry Culp pulled off the turnaround of the century
By Shawn TullyJuly 23, 2026
1 day ago
buffett
SuccessWealth
‘The man who dies rich dies disgraced’: The last time America had such wealth inequality, Andrew Carnegie knew he had to give it all away
By Nick LichtenbergJuly 22, 2026
2 days ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
Personal Finance
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
By Joshua HongJuly 23, 2026
1 day ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
20 hours ago
Current price of oil as of July 23, 2026
Personal Finance
Current price of oil as of July 23, 2026
By Joseph HostetlerJuly 23, 2026
1 day ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
2 days ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | 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.