The founder and chief executive of ASX-listed WiseTech Global, Richard White, will stand down from his roles with the company with immediate effect.
White is embroiled in allegations around his personal life, including alleged payments made to a past sexual partner, and allegations he approached female entrepreneurs through text messages and social media with offers of professional support, that could allegedly shift into crude or suggestive language, as reported by the Australian Financial Review.
Now, in an announcement to the ASX, the WiseTech board said it has agreed to White standing down as a director and chief executive.
White is to take a "short period of leave", before transitioning into a new role with the company he founded.
He is set to return to WiseTech as a consultant in a full time role over the long term, focused on product and business development.
The term of the consulting arrangement is 10 years with an option to extend for another five years, with a compensation of A$1 million.
White will report to the chair of the WiseTech board.
Chief financial officer Andrew Cartledge will take on the job as interim chief executive of WiseTech, while the search for a candidate to fill the role left vacant by White is underway.
WiseTech's board has acknowledged there are enquiries into the issues raised in media.
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