WiseTech Global

The Australian Competition and Consumer Commission executed a search warrant on WiseTech Global's offices on August 19, 2026, gathering evidence in an investigation into alleged contraventions of competition law involving WiseTech's CargoWise logistics software, the dominant platform used across major global freight-forwarding businesses. Shares fell as much as 8.7-12% on the news, the steepest single-day drop since June 2026. The ACCC has not disclosed which specific conduct or business divisions are under investigation. The warrant follows a January 2026 enforcement action in which the ACCC accepted a court-enforceable undertaking requiring WiseTech to divest the Expedient software it acquired via e2open, after the regulator found WiseTech already held substantial market power in logistics software.

Following months of governance turmoil (an AFP investigation, share-trading blackout allegations, and personal conduct allegations against founder Richard White), WiseTech's board appointed Raelene Murphy as independent chair effective July 7, 2026, with White remaining an executive director and Chief Innovation Officer. While preliminary board review findings cleared White on several matters, the review also confirmed he had misled the board about the nature of certain relationships — a governance failure. Major investor HESTA (A$104B) had publicly warned WiseTech over 'serious governance and leadership issues' in June 2026. No criminal charges had been filed as of the announcement, and White denied the allegations.

WiseTech announced roughly 2,000 layoffs in February 2026 as part of an AI-driven restructuring, with redundancy notifications beginning in May 2026 after an extended uncertainty period. The Guardian and Australian Financial Review reported that WiseTech sent staff in China a redundancy email titled 'Our global transformation - next steps', omitting any mention of AI, while staff elsewhere received an email titled 'Our AI Transformation - next steps'. CEO Zubin Appoo confirmed the differing communications, citing differing jurisdictional legal requirements (Chinese labor law makes AI-driven redundancies harder to justify than 'major changes' such as relocation or merger). A union-organized employee petition drew 590+ signatures citing prolonged uncertainty and minimum-only redundancy packages; a subsequent fact-check disputed claims that email body content (beyond the subject line) was altered.

Australian Federal Police and regulators executed search warrants at WiseTech offices regarding alleged trading by founder Richard White and three employees during late 2024 to early 2025. White reportedly sold $200M+ in shares without following proper processes, including during blackout periods when executives are prohibited from trading.