WiseTech’s Richard White dimisses tariffs ‘noise’, promises ‘top quality’ corporate governance

WiseTech Global founder Richard White insists the “noise” around US President Donald Trump’s tariffs should not overshadow the company’s prospects, even as the group warned it could face a tougher second half of the year.

The logistics software group, which last week confirmed it was eyeing its biggest ever acquisition, told investors on Tuesday it was facing potential “headwinds for the remainder of 2025”, linked partly to the tariffs and geopolitical uncertainty.

WiseTech cited forecasts from maritime research consultancy Drewry pointing to lower cross-border shipments of containers, which are a key focus of the Australian’s group software offerings.

“Drewry is projecting global container volumes to decline by one per cent in calendar year 2025, marking only the third such downturn in Drewry’s history and in contrast to the 5 per cent-plus growth in 2024,” it said.

“Uncertainty in the current geopolitical landscape, macroeconomic conditions and the global trading environment, relating to potential demand risks from announced trade tariffs, may be a headwind for the remainder of the 1925 financial year.”

However, Mr White, who controversially regained management control of WiseTech in February after revelations about his personal conduct, later told the Macquarie Australia Conference in Sydney that he and the group were not going to be distracted by the tariffs or the threat they pose to global container trade.

“It doesn’t matter, because . . . that’s noise,” Mr White said, urging investors to instead focus on “the growth of WiseTech and its products, and its capabilities”.

He said WiseTech had yet to see any major pullback in container demand, though “we have seen a tiny reduction in one of the key statistics”.

However, given there was a big build-up ahead of the tariffs being implemented last month as importers pulled product forward, “we are not really sure whether that’s the bleed-out of the draw forward or it’s something else”.

WiseTech admitted it was evaluating a potential $3.5 billion purchase of US software firm e2open, though the admission has received a lukewarm reception from investors worried about the risk and the timing.

The company and Mr White are still facing shareholder unrest over his return to the company, though the billionaire told the Macquarie conference he was committed to “top-notch” corporate governance.

Mr White — who founded WiseTech and grew it into a $30b, ASX-listed giant — stepped down last year as the company’s chief executive amid a board investigation into his relationship with employees.

However, he regained control three months ago as executive chairman, despite a board-commissioned investigation finding he failed to fully disclose personal relationships with employees.

His return was preceded by the departure of four independent directors who had voiced concern about his ongoing influence within the company.

AustralianSuper subsequently sold its remaining $580 million stake in WiseTech, “because recent developments have not met our expectations”.