WiseTech Global (ASX: WTC) shares fell sharply after reports surfaced that Australian federal or state police are investigating founder and former CEO Richard White. The news follows a turbulent period for White, who faced boardroom pressure last year over personal conduct allegations before retaining an executive chairman-style role at the company. A criminal investigation materially elevates the governance overhang that has shadowed the stock.
The key question for the market is whether White's continued involvement at WiseTech becomes untenable, and whether a forced, abrupt departure would destabilize the product and strategic roadmap he personally drives. Watch for any official police statement, WiseTech board response, or ASX disclosure; each could reset the stock's risk premium sharply in either direction.