Key-Man Risk on WiseTech Founder White Estimated at $6 Billion

WiseTech Global Ltd. Chairman and founder Richard White, whose share trading is being investigated by the securities regulator, is so integral to the business that his departure could wipe as much as A$9.3 billion ($6.1 billion) off the company’s value, according to Morningstar Inc.

If White was forced out as a result of the probe, Morningstar would probably slash its estimated value of WiseTech between 15% and 20%, analyst Roy Van Keulen said in a note. While Van Keulen said the risk of White being ousted was small, such an outcome would be a material blow. “Both the rate of growth and the ultimate progression of the business would shrink,” he said.