“Our concern is succession planning because you know you’ve got the founder who’s now executive chair, no independent directors, not the proper level of oversight, and not the right checks ...

The Australian Shareholders’ Association has called on WiseTech to appoint an independent chair and a majority of independent directors, warning of ‘significant governance concerns’.

Shares in software firm WiseTech Global have plunged on news four board directors, including the chair, have quit due to a dispute about the ongoing role of founder, billionaire Richard White.