WiseTech Global Limited (ASX: WTC) chair and founder Richard White has sold A$121 million worth of shares in the logistics software giant over the past fortnight — his first selldown since February, amid ongoing scrutiny of his leadership and board dynamics.
According to two changes of director’s interest notices lodged with the ASX, White’s RealWise Holdings offloaded 550,700 shares at an average price of A$94.23 between September 5 and 11. This followed an earlier tranche of 703,300 shares sold at A$98.17 each between August 28 and September 4.
The transactions reduce White’s shareholding from 36.63% (122.5 million shares at end-December) to 35.59% (119.1 million shares), although he remains the company’s largest shareholder by a significant margin.
The sales come shortly after WiseTech’s annual results on August 27, where White appeared publicly alongside newly appointed chief executive Zubin Appoo following a disappointing earnings print and missed forecasts that sent shares sharply lower.
Shares in WiseTech last traded at A$94.93, down 24% year to date, as some investors step in to buy the dip despite ongoing corporate governance concerns.
White initially stepped down as chief executive in late 2024 following allegations that he exchanged business advice for sexual favours, but returned as executive chairman in February this year after the abrupt resignation of half the board, including then-chair Richard Dammery.
The latest selldown is likely to raise further questions about board renewal, transparency, and leadership stability at one of Australia’s premier tech stocks.