Emotional Richard White sheds tears at WiseTech AGM after year of personal upheaval and boardroom fights

An emotional Richard White shed tears in front of WiseTech’s staff and shareholders at the company’s annual general meeting in the Sydney suburb of Alexandria on Friday morning.

Dressed in casual jeans, business jacket and a light pink shirt Mr White spent some of the meeting wiping away tears and dramatically paused at the end of a speech that capped a torrid year of lurid allegations about his private life, boardroom fight for control of the company, and ASIC investigation into his share trading.

“I’m sorry,” the billionaire founder told around 100 shareholders and staff gathered at the meeting as he wiped away a tear and paused.

“I’m very passionate about this company. The future our team is building extraordinary and we are more committed than ever before in making that reality. Thank you.”

The company also suffered a 49.5 per cent protest vote against its remuneration report that was led by the Australian Shareholders Association and related to misgivings around short-term incentives.

“It appears based on the proxy results that we may receive a first strike on the remuneration report,” said the company’s lead independent director Andrew Harrison. “”You’ll notice this resolution is advisory only and non-binding. However, the board will take the outcome of this vote and any discussion on this item into consideration.”

The software logistics company’s shares have slumped 48 per cent in 2025 to fetch a 52-week low of $61.59 on Friday as its he talked up its product development, tech team talent and $3.2 billion acquisition of US-based e2Open.

‘Very little we know about it’

Mr Harrison also said neither he or the company are prepared to comment on the ongoing ASIC investigation to allegations of insider share trading at the company by Mr White and three employees between late 2024 and early 2025.

“In relation to the ASIC investigation in general, as I said in earlier remarks it’s at a very early stage,” Mr Harrison told the AGM in response to a shareholder question.

“There are no charges being made. There are no allegations being made against the company. There’s very little we know about it. And it’s not something we’re prepared to comment on.”

More to come.