Australia's WiseTech Global jumps on Richard White stepping down as chair
BUZZ-Australia's WiseTech Global jumps on Richard White stepping down as chair Updates
** Shares of WiseTech Global WTC.AX rise as much as 11.3% to A$39.38, their highest since June 15
** Stock logs the largest intraday pct gain since June 24
** Logistics software maker says co-founder Richard White to step down from exec chairman position, also appoints lead independent director Raelene Murphy as independent chair
** Adds White remains on the board as an executive director, to continue as chief innovation officer
** Media articles in June reported White was being investigated over claims he exploited a woman's immigration status for sex and provided false information on a visa application
** While structural improvements in board composition are positive, market will likely want to see ongoing evidence that the refreshed board, CEO, and Chief Innovation Officer, operate independently before attributing any meaningful re-rating - RBC Capital Markets
** Stock down 42.7% YTD, including the day's moves
(Reporting by Nikita Maria Jino in Bengaluru)