The corporate cop says it will take an interest if alleged misbehaviour starts to affect good governance.
Richard White will remain executive chairman of WiseTech despite his fellow board members confirming that he misled an internal investigation into his alleged misconduct.
There was no plank walking for this human headline/inappropriate social media lothario. The lack of punishment would be unthinkable in most large Australian listed companies.
The woman who has accused WiseTech Global’s chairman of providing her with a visa in return for sex has been assisted by lawyers at Anti-Slavery Australia.
ASIC says it is making preliminary inquiries into WiseTech after a boardroom implosion and allegations against founder Richard White.
If the bosses of BHP or the Commonwealth Bank were accused of bullying or branded “LinkedIn lechers”,they wouldn’t have a job. WiseTech’s Richard White,however,gets promoted.
The disruption at the company,one of the country’s most successful technology groups,has sent the share price tumbling.
The software giant’s board exodus is a clear demonstration that money trumps optics. Key man risk doesn’t come any riskier than Richard White - but he and his allies call the shots.
Disgraced company founder Richard White has effectively been handed control of WiseTech after its independent board members quit,but the subsequent share plunge has cost him billions.
Richard White says he would “take a bullet” for his wife but many of the billionaire’s long-time friends are unhappy about the couple’s volatile history.