WiseTech Shares Plummet $10 Billion Amid Boardroom Shake-Up and White Scandals
2025-02-24
Sydney Morning Herald
A dramatic boardroom purge at WiseTech has seen founder Richard White consolidate power, but at a steep cost. The software giant's shares have plummeted, wiping over $10 billion from its market value. The scandal surrounding White has sparked widespread concern, with investors fleeing the company. As the crisis deepens, WiseTech's future remains uncertain, with many questioning the company's governance and leadership. The Australian tech industry is also feeling the ripple effects, with experts warning of potential long-term consequences for the sector. Key terms: Australian tech, software giant, corporate governance.