Richard White steps down from his position as the CEO of the technology company WiseTech, effective immediately.
According to ABC, a tech billionaire on Thursday, October 24, 2024, stepped down from his position two days after settling a lawsuit in civil court about accusations that he reneged on a business deal with a woman with whom he had a sexual relationship.
Mr White stated, “It has been a challenging time for me personally, my family and close friends, and for the company that I have built and truly love. I want to assure all those who have supported WiseTech, as customers, colleagues, and shareholders, that I remain absolutely committed to seeing this incredible organisation continue to thrive and grow in the coming years."
He further added, “I strongly believe that now is the right time for me to make this transition, and the Board agrees.”
Moreover, WiseTech shares' price has fallen more than 25% and lost over $4.6 billion over the past week following allegations from multiple media outlets about his relationships with female employees outside the company.
The tech company shares shed 6.3 percent during trade on Thursday, to $99.37.
The current chief financial officer of the company, Andrew Cartledge, will act as an interim CEO.
