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“The board will continue to meet regularly to consider and monitor the situation, and keep the market updated in line with its continuous disclosure obligations.
“It is conscious of the potential impacts on the company and will carefully evaluate all relevant factors in its assessment.”
Salacious details about Mr White’s private life spilled into the public domain in the past month after the businessman lodged a bankruptcy notice against another former lover, Sydney wellness entrepreneur Linda Rogan. In documents filed with the Federal Court to try to set aside a bankruptcy notice, she alleged Mr White expected her to have sex with him in exchange for an investment in her business.
Linda Rogan is challenging a bankruptcy notice issued by Richard White.Credit: Nick Moir and Oscar Colman
The investigation published on Monday found that White approached numerous female entrepreneurs via text message and social media with offers of professional support that could shift into crude or suggestive language. The approaches led one woman to dub him “the LinkedIn Lecher”.
Leaked correspondence between directors also revealed corporate governance concerns over White’s decision to pay former chief growth officer Gail Williamson $2.7 million, double what he was earning as chief executive, without disclosing this to investors.
White has run WiseTech since 1994 and has considerable influence as the company’s founder, chief executive and largest shareholder. The logistics software business floated on the ASX in April 2016 and reached a market capitalisation of $41 billion, which fell to $36 billion on Monday.
Asked if he was worried the allegations would affect his position on the board, White responded on Sunday: “Of course, I am concerned about any allegations, even untested allegations.”
He added: “I am always concerned to protect WiseTech, the company that I created from scratch and care deeply about.”
With Nick McKenzie, Kate McClymont and Max Mason.