Four board members have resigned from their roles at Australian logistics software firm WiseTech - owner of the CargoWise forwarding platform - over the future role of founder Richard White.
In a statement to the Australian Securities Exchange (ASX), the company confirmed that four of six board members had decided it was in the best interests of the company to stand aside.
This followed intractable differences in the board and differing views around the ongoing role of the founder and founding chief executive Richard White.
Their resignation will take effect after the signing of the half-year financial report and release of half-year results to ASX on 26 February.
The board members that have resigned are Lisa Brock, Richard Dammery, Michael Malone and Fiona Pak-Poy.
The company’s share dropped more than 20% following the announcement, although some commentators have suggested the decision will end board level differences and allow the company to focus on its future development.
Back in October when billionaire White was chief executive, the company announced he would leave the role and move to a consultancy position following allegations about his work and personal life.
The company has already got to work on appointing new board members, with an announcement that Mike Gregg will be appointed to the board following background checks.
Gregg was an independent non-executive director of WiseTech Global from 2006 until 2022.
The company has also faced delays to several new product launches, including its CargoWise Next platform and as a result, revenues are expected to be at the bottom end of guidance.
There have also been several new airline additions for the CargoWise platform in air cargo of late.
Earlier this year, Turkish Cargo announced it had begun offering reservations on its flights to freight forwarder and shipper users of the CargoWise platform.
The airline said that it had added a “direct data connection” to the WiseTech-owned cargo management system to provide users with real-time rates, capacity availability and e-reservation.
Last year, Teleport announced it had signed up with CargoWise, Avianca added its capacity to the platform, and Cathay Cargo customers DSV and DHL began using the system to book their shipments on the airline.
