FILE PHOTO: Wisetech Global CEO Richard White speaks at the company's IPO launch in the Australian Stock Exchange in Sydney, April 11, 2016. REUTERS/Jason Reed/File Photo
(Reuters) -AustralianSuper has sold its stake in WiseTech Global as the logistics software giant's recent handling of founder Richard White's transition did not meet its expectations, the country's largest pension fund said on Wednesday. The fund no longer held an active shareholding in WiseTech, it said, having sold about A$580 million ($366.2 million) worth of stock to close its 1.9% position over the past couple of weeks.
White, the biggest shareholder of the logistics software maker, had stepped down as its chief executive in October 2024 following media reports of allegations about his personal life, including payments to a past sexual partner.
