WiseTech Board Quits as Founder White Wins Power Struggle
- Four directors cite ‘intractable differences’ over White
- White has faced pressure after complaints about his behavior
Richard White
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
WiseTech Global Ltd.’s founder and largest shareholder Richard White appears to have triumphed in a high-level power dispute after almost every board member quit in a disagreement over the billionaire’s role at the company. The shares slumped.
Four of WiseTech’s six directors, including Chairman Richard Dammery, will leave on Feb. 26, the company said Monday. The resignations follow “intractable differences in the board and differing views” around White’s position.