WiseTech shares surge 10% as Richard White steps back from chair role

WiseTech Global Ltd (ASX: WTC) shares are continuing their impressive run on Tuesday.

At the time of writing, the ASX 200 tech stock is up 10.43% to $39.06. By comparison, the S&P/ASX 200 Index (ASX: XJO) is relatively flat at 8,833 points.

WiseTech shares have now climbed 15% over the past week, although they remain down 43% since the start of 2026.

After such a heavy fall this year, the latest gain suggests investors are responding to signs of progress.

So, what did WiseTech announce?

Richard White hands over the chair role

According to the release, Raelene Murphy has been appointed Independent Chair with immediate effect.

Murphy only joined the WiseTech board at the start of this year, but has already been moved into a bigger role. She became lead Independent Director in May and is now taking over the chair position.

However, White isn’t stepping away from the company. He will remain on the board as an Executive Director and continue as Chief Innovation Officer.

This means he will still be involved in the parts of WiseTech that investors probably care about most, including product, technology, and growth.

White said recent personal media attention had become an unnecessary distraction from the strength of the business. He also repeated that he denies the recent allegations reported in the media.

Board renewal continues

In addition, WiseTech advised that it isn’t finished with the board changes just yet.

The company said it is still searching for another independent non-Executive Director.

Since March 2025, Chris Charlton, Sandra Hook, Rob Castaneda, and Murphy have all been appointed as independent non-Executive Directors.

Once the next appointment is made, WiseTech will have a total of 5 Independent Directors on its board.

That should help answer some of the governance concerns that have followed the company over the past year.

WiseTech also pointed to Zubin Appoo’s appointment as CEO in July 2025 as part of its wider succession planning.

The board commented:

Appoo has demonstrated strong leadership since taking on the CEO role, and said it is comfortable with the progress of its executive succession plan.

The business is still growing

Away from the board headlines, WiseTech is still a major global software business.

The company provides software for the logistics, global trade, and supply chain industries. It serves more than 22,000 logistics companies and other industry participants across 193 countries.

And its latest half-year result also showed why investors haven’t completely given up on the stock.

In 1H26, revenue increased 76% to US$672 million, helped by e2open and growth in CargoWise. EBITDA rose 31% to US$252.1 million, although statutory net profit fell 36% to US$68.1 million.

Despite the mixed results, WiseTech is a growing business.

Keep in mind, the underlying business has not changed. If anything, investors now have a better reason to focus on the growth still coming through.

The post WiseTech shares surge 10% as Richard White steps back from chair role appeared first on The Motley Fool Australia.

More reading

• Are WiseTech shares ripe for a rebound?
• How to tell if an ASX share is cheap or a value trap
• Here are the top 10 ASX 200 shares today
• Down 35%+, should you buy Zip and WiseTech shares?
• Can WiseTech shares double from here? Analysts are betting yes

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.