BREAKING NEWS: Australia’s largest technology firm, WiseTech Global, has appointed Zubin Appoo as its new chief executive, effective immediately. This announcement comes as the company seeks to move past recent governance challenges involving its billionaire co-founder, Richard White.
On October 30, 2023, WiseTech confirmed that Appoo will succeed interim CEO Andrew Cartledge, who will retire at the end of the year. Appoo, who previously served as a senior executive at WiseTech from 2004 to 2018, played a crucial role in the company’s rapid expansion during that period. He returned to WiseTech in April as chief of staff and deputy chief innovation officer.
Andrew Harrison, WiseTech’s lead independent director, stated that the board aimed to find a candidate who could “seamlessly partner” with White while also exercising independent decision-making as CEO. This leadership change follows the resignation of four board members in February due to “intractable differences” regarding White’s ongoing involvement in the company he founded over three decades ago.
In a bid to address governance issues, White stepped down as CEO in October, while the board initiated reviews by two law firms to investigate “specific issues raised in recent media coverage,” including allegations about his personal life. A company-ordered review cleared White of numerous accusations, including bullying and misuse of funds, in November.
In a statement, Appoo expressed his enthusiasm for the new role, saying, “I am a strong believer in WiseTech, and have been a shareholder since 2005. I’ve witnessed the immense impact WiseTech continues to have on the global logistics industry.” The company’s flagship platform, CargoWise, is widely used by freight companies such as DHL to manage global shipments efficiently.
As part of his compensation, Appoo will receive an annual base salary of $700,000, with the potential to earn an additional $1.05 million in bonuses through share rights. Since departing WiseTech in 2018, he has held various senior positions, including CTO roles at InLoop, Flexischools, and HICAPS, as well as CEO at Find a Carer. His LinkedIn profile describes him as a “software geek” and a “passionate problem solver.”
This leadership transition at WiseTech is significant not only for the company but also for the broader tech industry in Australia. Observers will be closely watching how Appoo’s appointment will influence WiseTech’s strategic direction, especially in light of the recent governance issues. Stay tuned for more updates on this developing story.
