WiseTech Global Limited (ASX:WTC) Announces Board Review Update
Board Review Update
WiseTech Global Limited (ASX:WTC) has provided an update on the Board Review related to its Co-Founder and Executive Chair, Mr Richard White, and board composition. The Board engaged Herbert Smith Freehills and Seyfarth Shaw LLP to investigate allegations reported by the media. Forensic accounting services were provided by McGrath Nicol. Lead Independent Director Mike Gregg has been liaising with Seyfarth on behalf of the Board, excluding Mr White. Seyfarth has identified three matters still under investigation, including two confidential complaints. The Board will issue further updates upon the completion of the investigation.
Board Statement
The Board Sub-Committee, comprising Mike Gregg, Charles Gibbon, and Maree Isaacs, has addressed Mr White regarding serious matters, emphasising that such conduct is unacceptable. The Committee acknowledged the challenges faced by employees and stakeholders and conducted a shareholder engagement survey to guide future measures. They recognized Mr White’s valuable contributions while addressing legitimate governance concerns highlighted in the Board Review findings.
Board Actions
The Board Sub-Committee is reviewing the Company’s Code of Conduct to improve the disclosure and management of close personal relationships within the Company. WiseTech maintains strong governance arrangements, including whistleblower platforms and compliance training. Policies will be reassessed based on recent findings to ensure their effectiveness. Additionally, the Board intends to appoint an additional independent director to comply with ASX Listing Rules, with the search currently underway.
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