WiseTech boardroom exodus as Charles Gibbon and Michael Gregg exit

WiseTech’s boardroom upheaval has continued with two of its longest serving directors, Charles Gibbon and Michael Gregg, walking out the door of the logistics software titan.

WiseTech Global executive chairman Richard White at the Macquarie Australia Conference in Sydney on Tuesday May 6, 2024. Picture: Supplied

Two of Richard White’s long-term supporters and biggest backers have quit as WiseTech directors as theboardroom exodus at the logistics software titan takes on another dimension.

Charles Gibbon, who joined WiseTech in 2006, will retire next month, while Michael Gregg - who has had two stints on the board - will leave at the company’s annual meeting later this year.

Mr Gregg, an early stage investor who struck gold with WiseTech, rejoined the board in late February after four independent directors – including chair Richard Dammery – suddenly quit the company in protest over founder Richard White’s new $1m a year consulting role.

Mr White had stepped down as chief executive late last year amid allegations he exchanged business advice for sex and after a short break assumed a consulting role at the company. After February’s exodus, he has since wrested back control, becoming executive chair and is overseeing the appointment of a new chief executive.

No reason was given for Mr Gregg and Mr Gibbon’s departures, with WiseTech only saying in a statement to the ASX that it was part of its “board renewal program”.

This is despite Mr Gregg - who is WiseTech’s sixth biggest shareholder - rejoining the company’s board four months ago as lead independent director. He was responsible for handling the Seyfarth report into Mr White’s behaviour.

The shares fell 2 per cent to $106.64.

In March, a board subcommittee that included Mr Gregg, Mr Gibbon and co-founder Maree Isaacs - who sold her stake in the company to Mr White late last year - “acknowledges the legitimate governance concerns raised in the board review findings”.

The company has refused to release the full independent review, a decision that led to the mass exodus of four board directors earlier this year.

Two weeks later former chair Andrew Harrison – who stepped down after near nine years as chair early last year before rejoining the company in March – replaced Mr Gregg as lead independent director.

Charles Gibbon.

Mr Gregg had previously sat on the board for almost two decades before leaving in 2022.

Mr Harrison will also take over from Mr Gibbon as chair of the board’s audit and risk committee, effective immediately.

As WiseTech announced Mr Gibbon and Mr Gregg’s impending departures on Thursday, it appointed two new independent directors Sandra Hook and Rob Castaneda.

“The board welcomes Sandra and Rob as Independent Non-Executive Directors and looks forward to the contributions their extensive experience will bring to WiseTech’s continued global growth and innovation,” WiseTech said.

“The board is continuing to interview additional director candidates, with a view to appointing one or more additional independent non-executive directors by December 31, 2025.”

WiseTech said Ms Hook brings over 30 years of executive and board leadership across media, technology, communications, and services.

“Her executive roles have included CEO, COO, GM and marketing director for divisions of leading media organizations such as News Limited, Foxtel, and Fairfax, where she steered businesses through digital disruption, M&A (mergers and acquisitions), and structural change.

“Since 2012, Sandra has served on listed, private, and government boards across sectors including SaaS (software as a service), tech services, medtech, education, marketing, R&D, and internet governance. She is currently chair of NextED Group and a non-executive director at IVE Group, auDA, and End Food Waste CRC.”

Mr Castaneda is the founder and chief executive of ServiceRocket, a “global leader in tech-enabled services”, headquartered in Palo Alto, California.

“Rob holds a degree in Computer Science with Honours from the University of Technology Sydney and in 2017 received the UTS Chancellor’s Award for Excellence. In 2014, he was named one of Silicon Valley’s best and brightest by the Silicon Valley Business Journal, and was personally recognized by President Barack Obama for his leadership in a global entrepreneurship initiative,” WiseTech said.

“Rob lives in Silicon Valley and is a passionate mentor and advisor to founder-led tech companies and entrepreneurs around the world, as well as being committed to strengthening Australia’s technology ecosystem.”