AustralianSuper has sold its entire $580 million stake in WiseTech Global and accused the logistics software giant run by billionaire Richard White of failing to meet its expectations of proper corporate governance.
White returned as WiseTech’s executive chairman last month despite a board-commissioned review that found he misled the company over his relationship with employees. His return came days after WiseTech’s four independent directors abruptly quit the $29 billion company.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
