Executive Chair agreement & update on succession planning

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Stock Wisetech Global Ltd (WTC.ASX)
Release Time 16 Apr 2025, 9:52 a.m.
Price Sensitive Yes
 Executive Chair agreement & update on succession planning
Key Points
  • Founder and Executive Chair Richard White enters 10-year employment agreement
  • Focus on product roadmap, innovation, strategy, and succession planning
  • Compensation unchanged at $1 million AUD per annum
  • Interim CEO Andrew Cartledge available to stay beyond planned retirement if needed
Full Summary

WiseTech Global Limited (ASX:WTC) today announces the key terms of the employment agreement entered into with Founder and Executive Chair Richard White. Under the 10-year agreement, Mr. White will serve as Executive Chair and Chief Innovation Officer, focused on delivering the product roadmap, driving innovation and software development, commercializing new products, developing and implementing strategy, and overseeing succession planning. The agreement includes a compensation of $1 million AUD per annum, unchanged since 2015. Mr. White has also advised that his pre-programmed share trading plan has been paused and he does not intend to trade WiseTech shares until after the company's FY25 full year results are released. The company has also progressed its search for a permanent Chief Executive Officer, with several strong internal and external candidates identified. Interim CEO Andrew Cartledge has reaffirmed his availability to stay beyond his planned retirement at the end of 2025 to enable a seamless handover and transition.