Latest news with #RichardWhite
Reuters
2 days ago
- Business
- Reuters
WiseTech Global taps insider Zubin Appoo as new CEO, succeeding founder Richard White
July 28 (Reuters) - Australian logistics software maker WiseTech Global ( opens new tab on Monday said its chief of staff, Zubin Appoo, will take on the role of CEO effective immediately, succeeding billionaire founder Richard White. White, the company's long-serving chief executive, put down his papers last October, following a flurry of controversies, including media reports of allegations about his personal life. White's exit comes amid a broader crisis marked by boardroom exodus, corporate governance concerns, and share volatility that led to Australia's largest pension fund, AustralianSuper, selling its stake in WiseTech Global. Appoo previously spent 14 years at WiseTech from 2004 to 2018 as head of innovation and technology, and was part of the team that developed WiseTech's flagship CargoWise platform. He returned to the company earlier this year as the deputy chief innovation officer, reporting directly to White. "Zubin Appoo's appointment is a much-needed stabilising force" for WiseTech, said Josh Gilbert, market analyst with eToro. "His elevation to CEO allows the business to draw a line under recent boardroom drama and provides a clearer leadership structure moving forward." Shares of the company ended 0.3% higher at A$120.5. Andrew Cartledge, who served as the logistics tech firm's finance chief for nearly a decade, took over the interim CEO duties in October 2024. The company reiterated that Cartledge will retire at the end of the year as previously stated, but did not specify what role he will take on till his retirement. Last year in October, the Australian Financial Review and other media outlets reported that a woman who had had a sexual relationship with White made numerous allegations against him in late 2020, including claims of inappropriate behaviour. Initial findings of an external governance review started by the company largely cleared White of wrongdoing, though it acknowledged that his management style might be perceived by some employees as intimidating. The billionaire made a surprise return to the firm's top brass in February, appointed as its executive chair.
AU Financial Review
2 days ago
- Business
- AU Financial Review
WiseTech's new CEO sucks up to the top
WiseTech's Richard White caused another ripple in the market first thing on Monday by announcing the company's new permanent CEO would be Zubin Appoo. It's not just that the 44-year-old has never been a chief executive of an ASX-listed firm, or as our sister column Chanticleer pointed out, his last role was with a church-affiliated carer website, but Appoo only recently returned to the company where he last worked in 2018.
CNA
2 days ago
- Business
- CNA
WiseTech Global taps insider Zubin Appoo as new CEO, succeeding founder Richard White
Australian logistics software maker WiseTech Global on Monday said its chief of staff, Zubin Appoo, will take on the role of CEO effective immediately, succeeding billionaire founder Richard White. White, the company's long-serving chief executive, put down his papers last October, following a flurry of controversies, including media reports of allegations about his personal life. White's exit comes amid a broader crisis marked by boardroom exodus, corporate governance concerns, and share volatility that led to Australia's largest pension fund, AustralianSuper, selling its stake in WiseTech Global. Appoo previously spent 14 years at WiseTech from 2004 to 2018 as head of innovation and technology, and was part of the team that developed WiseTech's flagship CargoWise platform. He returned to the company earlier this year as the deputy chief innovation officer, reporting directly to White. "Zubin Appoo's appointment is a much-needed stabilising force" for WiseTech, said Josh Gilbert, market analyst with eToro. "His elevation to CEO allows the business to draw a line under recent boardroom drama and provides a clearer leadership structure moving forward." Shares of the company ended 0.3 per cent higher at A$120.5. Andrew Cartledge, who served as the logistics tech firm's finance chief for nearly a decade, took over the interim CEO duties in October 2024. The company reiterated that Cartledge will retire at the end of the year as previously stated, but did not specify what role he will take on till his retirement. Last year in October, the Australian Financial Review and other media outlets reported that a woman who had had a sexual relationship with White made numerous allegations against him in late 2020, including claims of inappropriate behaviour. Initial findings of an external governance review started by the company largely cleared White of wrongdoing, though it acknowledged that his management style might be perceived by some employees as intimidating.
Business Recorder
2 days ago
- Business
- Business Recorder
Banks boost Aussie shares higher; investors brace for corporate earnings
Australian shares rose on Monday, led by gains in financial stocks, while investors braced for the start of the local corporate earnings season this week. The S&P/ASX 200 index rose 0.4% to 8,703.7 points by 0049 GMT, putting it less than 100 points below the lifetime high of 8,776.4 hit in mid June. The benchmark had dipped 0.5% on Friday. The earnings season begins this week, with mining major Rio Tinto set to lead the way when it reports its half-year results on July 30. Meanwhile, investors are awaiting the local inflation print, also due on Wednesday, for clues on the Reserve Bank of Australia's (RBA) path for interest rate cuts. On the local bourse, financials rose 0.5%, with the country's 'Big Four' banks gaining between 0.2% and 0.7%. Technology stocks added 0.8%, tracking advances in Wall Street futures after the United States struck a trade deal with the European Union. Gold stocks climbed 1.2%, supported by a 4.7% rise in Bellevue Gold after its strong quarterly production update. Healthcare stocks grew 1.3%, while real estate stocks rose 0.8%, broadly in line with the benchmark. Miners lost 0.4% as iron ore prices fell. Energy stocks shed 0.5%, dragged down by uranium miner Boss Energy, which plummeted as much as 40.3% after warning of higher costs for its Honeymoon project in FY26 due to a decline in average tenor. Among individual stocks, logistics software maker WiseTech Global rose as much as 0.6% after naming chief of staff Zubin Appoo as its permanent chief executive, succeeding billionaire co-founder Richard White. New Zealand's benchmark S&P/NZX 50 index added 0.6% to 12,928.96 points.
Mint
2 days ago
- Business
- Mint
Banks boost Aussie shares higher; investors brace for corporate earnings
July 28 (Reuters) - Australian shares rose on Monday, led by gains in financial stocks, while investors braced for the start of the local corporate earnings season this week. The S&P/ASX 200 index rose 0.4% to 8,703.7 points by 0049 GMT, putting it less than 100 points below the lifetime high of 8,776.4 hit in mid June. The benchmark had dipped 0.5% on Friday. The earnings season begins this week, with mining major Rio Tinto set to lead the way when it reports its half-year results on July 30. Meanwhile, investors are awaiting the local inflation print, also due on Wednesday, for clues on the Reserve Bank of Australia's (RBA) path for interest rate cuts. On the local bourse, financials rose 0.5%, with the country's "Big Four" banks gaining between 0.2% and 0.7%. Technology stocks added 0.8%, tracking advances in Wall Street futures after the United States struck a trade deal with the European Union. Gold stocks climbed 1.2%, supported by a 4.7% rise in Bellevue Gold after its strong quarterly production update. Healthcare stocks grew 1.3%, while real estate stocks rose 0.8%, broadly in line with the benchmark. Miners lost 0.4% as iron ore prices fell. Energy stocks shed 0.5%, dragged down by uranium miner Boss Energy, which plummeted as much as 40.3% after warning of higher costs for its Honeymoon project in FY26 due to a decline in average tenor. Among individual stocks, logistics software maker WiseTech Global rose as much as 0.6% after naming chief of staff Zubin Appoo as its permanent chief executive, succeeding billionaire co-founder Richard White. New Zealand's benchmark S&P/NZX 50 index added 0.6% to 12,928.96 points. (Reporting by Adwitiya Srivastava in Bengaluru; Editing by Sumana Nandy)
