WiseTech Former CEO Cleared of Misconduct Allegations; Shares Down 8%

MT Newswires Live11-22 11:07

WiseTech Global (ASX:WTC) cleared founder and former Chief Executive Richard White of misconduct allegations following an internal review, according to a Friday filing with the Australian bourse.

White is facing a series of scandals alleging that he used company funds to support a former partner, among others.

In its findings, the company concluded that White made disclosures as required under relevant policies in relation to his alleged close personal relationships in the workplace.

"There is no evidence that the current employee in question received remuneration or employment benefits that were in excess of other employees in an equivalent position," the filing stated.

On the issue of misuse of company funds, the findings stated that the expense claims by White had no evidence of inappropriate use, per the filing.

WiseTech's shares were down more than 8% in recent Friday trade.

Price (AUD): $127.51, Change: $-11.42, Percent Change: -8.22%

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