Richard White will retain $1-million salary earned for past decade
The disgraced former CEO of WiseTech has been named as the company's new chief innovation officer, where he is expected to retain the AU$1 million annual salary he has received since 2015.
WiseTech announced this week the appointment of Richard White, its co-founder and former CEO, who stepped down in October amid reports that he had a number of relationships with female employees and people outside the company.
According to WiseTech, White will be reporting to the board on his executive activities. It will be a 10-year term with the option to extend for a further five years by mutual agreement.
"Mr. White to be paid $1 Million AUD per annum (unchanged since his remuneration in 2015)," the company statement read.
White's new full-time position comes less than a year after his departure, and just as he made his comeback to the organisation in February, where he was appointed executive chair.
"My return to employment at WiseTech as Executive Chair and Chief Innovation Officer reflects my long-term commitment to continuing WiseTech's track record of delivering strong shareholder returns," White said in a statement.
"I am confident of WiseTech's future growth prospects, our ability to execute our strategy, and the strength of our high calibre senior leadership team."
White stepped down from his CEO role in October 2024 after allegations about his relationships with female employees and people outside the firm, ABC News reported.
In the findings of a board investigation about his conduct, it was revealed that he was "not fully transparent and candid," and that he made misleading claims to the board about personal matters concerning his relationship with an employee.
"Mr. White made inaccurate and incomplete disclosures concerning the nature and duration of his relationship with the employee," the board's findings read.
White said he accepted the board's findings, and indicated that in hindsight he would have more "fulsomely disclosed" the matters to the board and handled the contracting process differently.
WiseTech's board announced that it is undertaking a review of the company's Code of Conduct to enhance provisions regarding the disclosure and management of close personal relationships that are connected with the company.
"The Company's policies will be reviewed in light of recent events and the Board Review findings to ensure they remain fit for purpose," it said.
In the wake of White's departure as CEO, WiseTech has named Andrew Cartledge as interim CEO while the company looks for a permanent one.
WiseTech's update this week said the company has already identified "several strong internal and external candidates" for the role.
"A shortlist is in the process of being finalised with an appointment anticipated to be announced to the market prior to the Annual General Meeting in November 2025," it said.
