WiseTech Founder Regains Control Amid Board Resignations

WiseTech Global's founder Richard White has effectively regained control of the company following the resignation of four non-executive directors, including Chairman Richard Dammery, over disagreements concerning White's role. Despite stepping down as CEO last year due to personal conduct allegations, White returned in a consultancy capacity and has been reinstated as 'Founder and Founding CEO'. The mass resignation has led to a significant drop in WiseTech's share price, which fell by up to 18.6%, marking it as the worst performer on the ASX 200 index. The situation raises concerns about corporate governance and future leadership dynamics at the company, as it faces new allegations against White. WiseTech's revenue projections have also been adjusted to the lower end of its forecast range due to ongoing disruptions.