WiseTech shares rise after Richard White resigns as executive chair amid police investigation

According to The Guardian, Richard White has resigned as executive chair of WiseTech, the Australian logistics-software company he co-founded, while denying allegations that he exploited a worker's financial and visa situation for sex. The company said on Tuesday that White will remain on the board as a director and chief innovation officer, with Raelene Murphy stepping in as chair. Investors appeared reassured by the reshuffle: WiseTech's share price rose on the news, adding close to one billion dollars to the company's market value. A police investigation into the allegations is ongoing.

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