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WiseTech chair Richard Dammery to meet investors and proxy advisers with Richard White on the agenda

Richard Dammery will talk to large investors and proxy advisers next week, following recent revelations about the private life of WiseTech founder Richard White.

WiseTech founder Richard White. Picture: Jonathan Ng
WiseTech founder Richard White. Picture: Jonathan Ng

WiseTech Global chair Richard Dammery will conduct a “meeting blitz”, talking to large investors and proxy advisers next week following revelations about the private life of founder and chief executive Richard White.

Shares in the tech giant dipped in the two days after new claims were aired, falling 2.9 per cent to $127 on Thursday, but remain more than 100 per cent up on where they were trading at this time last year.

The Australian revealed on Wednesday the billionaire founder of WiseTech could take a leave of absence from the tech company he founded following a string of sensational allegations.

Proxy advisers contacted by The Australian on Thursday said they had not yet contemplated their positions regarding voting on resolutions to be put to the company’s annual general meeting, scheduled for November 22.

These include a bid to increase the total pool of directors’ fees by two-thirds, from $1.8m to $3m.

Shareholders will also be asked to vote on the remuneration report – which sailed through with almost 97 per cent support at last year’s meeting – and the issue of 2589 share rights to co-founder and executive director Maree Isaacs, who already holds $1.33bn in shares.

Mr White is paid a fixed $1m for heading WiseTech, which pales into insignificance beside his shareholding, which is worth about $15bn.

WiseTech founder Richard White and wellness entrepreneur Linda Rogan. Picture: NewsWire
WiseTech founder Richard White and wellness entrepreneur Linda Rogan. Picture: NewsWire

A spokeswoman for WiseTech would not comment on Thursday regarding when the company’s relevant committees would be meeting, or whether Mr White’s tenure would be considered.

It has been alleged in a court case which will not be finalised until well into next year that Mr White sought to have a sexual relationship with Sydney beauty entrepreneur Linda Rogan in exchange for investing in her company.

A spokeswoman for Mr White previously said: “Gven this matter is currently before the court, Richard is unable to comment other than to say that the court proceedings relate to an unresolved commercial debt arising from various cases run by Ms Rogan against Richard, and costs and court orders made against Ms Rogan in those matters.”

The Australian then revealed further claims from Sydney woman Jenna Riches, who divulged how a mentoring relationship conducted via messages, phone calls and video chats later evolved into a romantic relationship. Ms Riches alleges the relationship ended after it was discovered by Mr White’s now wife, Zena Nasser.

Mr White declined via a spokeswoman to respond to questions put to him this week regarding Ms Riches’ claims.

WiseTech’s board also includes significant shareholder Charles Gibbon, who the company says in its annual report qualifies as an independent director despite holding $2.2bn worth of stock.

The annual report, published earlier this month, says the board, excluding Mr Gibbon, “has taken into account Charles Gibbon’s shareholding and tenure when considering whether (he) should be considered to be independent in addition to his conduct to date on the board … The board continues to consider Charles Gibbon to be independent.’’

The board also includes independent director Lisa Brock, who chairs the audit and risk committee, and Fiona Pak-Poy, who chairs the people and remuneration committee and is the federal government’s representative on the board of Silicon Quantum Computing.

The company’s “credo”, published on its website and penned by Mr White, is “Our culture is not by accident … our people define us’’. “We favour principles over policy, open and frank communication over secrecy, agreement over control, results over busy work.’’ It is understood options have been presented to Mr White, which include him taking a leave of absence to focus on his mental health.

A spokeswoman representing the WiseTech board told The Australian this week: “The board notes with disappointment the ongoing media coverage relating to WiseTech CEO Richard White’s alleged private relationships.

“Although the issues are of a highly personal nature, the board is conscious of the potential impact on WiseTech, and has been meeting regularly to consider the situation. It will continue to actively assess events and carefully consider the appropriate steps as required.”

The court matter is scheduled for a hearing on February 6.

Originally published as WiseTech chair Richard Dammery to meet investors and proxy advisers with Richard White on the agenda

Original URL: https://www.adelaidenow.com.au/business/wisetech-chair-richard-dammery-to-meet-investors-and-proxy-advisers-with-richard-white-on-the-agenda/news-story/99b268d5f4d68854804041bb3c5c3019