The other board members are Maree Isaacs, co-founder and company executive, and Charles Gibbon, a director for 19 years.
WiseTech also downgraded its financial forecasts, saying revenue would be at the low end of the forecasts given at its annual meeting in November last year, but profit margins would be at the top end of its guidance due to cost-cutting measures.
White and WiseTech were plunged into turmoil last year following an investigation by The Sydney Morning Herald, The Age, and The Australian Financial Review. The investigation revealed that White had paid for a multimillion-dollar house for an employee and that an outgoing WiseTech Global director had accused him of intimidation and bullying.
Speaking at the company’s AGM, chairman Dammery said the group would downgrade its financial guidance due to the scandal.
“Upfront, I need to say that the board is disappointed that the diversion of Richard White’s attention away from product development at a critical juncture has impacted the timing of the release of some of the three breakthrough products,” Dammery said.
WiseTech has become a world-beating tech giant by offering logistics companies software to manage all their operations more efficiently, which also gives it unparalleled insights into global trade via some of the world’s largest freight forwarders such as FedEx, UPS and DHL.
More to come
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