WiseTech's Shareholder Sells Stake Amid Governance Concerns; Shares Fall 3%

MT Newswires Live

2025/03/27

WiseTech Global (ASX:WTC) shareholder AustralianSuper, has sold AU$580 million worth of shares in the logistics technology firm, citing concerns over the company's handling of founder Richard White's leadership transition, according to multiple media reports on Thursday.

White stepped down as CEO in October 2024 following misconduct complaints but returned as executive chairman in February, after four directors resigned over his role at the company.

The superannuation fund said it "may reconsider [its] position if the situation changes."

Shares of the company fell past 3% in recent Thursday trade.

Price (AUD): $82.51, Change: $-2.9, Percent Change: -3.38%

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