WiseTech founder Richard White accepts 'serious' review findings
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The news: WiseTech Global's founder and former CEO Richard White failed to make appropriate disclosures concerning personal relationships he had with two separate company employees, according to the findings of an internal review.
The context: In an ASX statement, WiseTech said its board has told White that "a number of the matters" raised in the review's findings "are serious in nature" and "such conduct is not acceptable and must not be repeated".
A board sub-committee is currently reviewing the company's code of conduct to improve provisions regarding the disclosure and management of close personal relationships connected with the company.
WiseTech said White — who was re-appointed to the board as executive chairman four months after standing down as CEO — indicated that "while those matters were personal in nature, with the benefit of hindsight he would have more fulsomely disclosed them to the board".
"Mr White accepts the findings of the board review and has committed to, and is supportive of, a new and more stringent code of conduct in respect of such matters," the company said.
Three matters remain the subject of further investigation, including two confidential complaints against White announced last month.
The source: ASX
