WiseTech Global has turned to a recently-returned employee to run the technology company and work with its controversial billionaire co-founder Richard White as it tries to recover from a board and executive upheaval that undermined the share price.
The company said Chief of Staff Zubin Appoo had been appointed permanent Chief Executive Officer (CEO) to succeed former Chief Financial Officer Andrew Cartledge who had served as interim CEO from October 2024.
Apoo worked with White in shaping WiseTech’s growth strategy between 2004 and 2018 and since has held executive roles including Chief Technology Officer at InLoop, Flexischools and HICAPS and Chief Executive Officer of Find a Carer.
Lead Independent Director Andrew Harrison said the Board sought a leader who could seamlessly partner with White while also operating independently and decisively as CEO.
“Zubin understands WiseTech’s DNA and ambition. With his return, we are confident in the strength of our leadership and their ability to drive long-term value for shareholders,” Harrison said in an ASX announcement.
Appoo would report directly to the Board with full accountability for the performance and growth of the business and leadership of operations, people, culture, product delivery and commercial performance.
He would also collaborate with White on long-term product vision, innovation and strategic investment.
White says it was imperative that the company had a strong succession plan as it entered the next phase of its growth trajectory.
“Since rejoining WiseTech as Chief of Staff, Zubin has been working closely with our senior leadership team, our development teams, as well as customers, and investors,” he said.
“He has immersed himself in WiseTech’s business operations with a focus on driving innovation, value creation, and efficiencies.”
White, who owns 37% of the company, resigned as CEO in October 2024 amid allegations of inappropriate behaviour, but his continued role as a consultant led to the resignation in February of four independent directors with governance concerns.
The share price of the logistics software company halved between November and in February but has since recoupled more than two-thirds of the losses.
WiseTech shares closed 34 cents (0.28%) higher at $120.50 on Monday, capitalising the company at $40.32 billion (US$26.47 billion).
