Published 11 days ago • Australia • Updated 10 days ago

Australia’s Largest Pension Fund Sells $367 Million WiseTech Shares On Governance Concerns

Summary by Forbes

The divestment comes after WiseTech appointed its founder Richard White as executive chairman last month, enabling the tycoon to take back control of the company four months after quitting as CEO following a series of damaging media reports.

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Bloomberg

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BizToc

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Scandal-Plagued WiseTech Faces Rising Pressure From Top Pensions

WiseTech Global Ltd. is facing growing pressure from some of Australia’s biggest pension funds to address governance concerns, after scandal-plagued founder Richard White last month ousted most of the board and installed himself as executive chairman.

10 days ago·United States

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The West Australian

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AustralianSuper sells out of WiseTech on governance concerns

The super fund said the last of what had been a 2.6 per cent stake in the logistics software company had been offloaded “because recent developments have not met our expectations”.

10 days ago·Australia

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Australian Financial Review

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AustralianSuper sells $580m stake in WiseTech, takes swipe at board

The country’s largest super fund has been one of the logistics software giant’s largest shareholders. It says the company had “not met our expectations”.

10 days ago·Sydney, Australia

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Forbes

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Australia’s Largest Pension Fund Sells $367 Million WiseTech Shares On Governance Concerns

11 days ago·United States

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fullyloaded.com.au

AustralianSuper sells $580 million WiseTech Global stake - Fully Loaded

Image: Tigarto/stock.adobe.comAustralia’s largest pension fund, AustralianSuper, has sold its entire $580 million stake in logistics software giant WiseTech Global to close its 1.9 per cent position over recent weeks. AustralianSuper’s stake in WiseTech reached as high as 2.64 per cent in January 2024 but had dipped to 2.26 per cent by October that year. In a statement, AustralianSuper says it has sold its stake in WiseTech due to the ongoing tr…

10 days ago

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forbes.com.au

Australia’s largest pension fund sells $367M WiseTech shares on governance concerns

AustralianSuper—the country’s largest pension fund—sold $580 million (US$367 million) shares of WiseTech Global in recent weeks amid concerns over corporate governance at the Sydney-based freight–software company. Richard White, chief executive officer of WiseTech Global Ltd., gestures while he speaks during the Morgan Stanley Australia Summit in Sydney, Australia, on Wednesday, June 12, 2024. The Summit will continue through June 13. Photograp…

10 days ago

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