(Reuters) -Australian logistics software maker WiseTech Global appointed Richard White as its executive chairman on Wednesday, even as the firm's board and investors remain split over the billionaire founder's role following a flurry of controversies.
The software maker also reported underlying net profit after tax of $112.1 million in the first half of fiscal 2025, a 34% jump from a year earlier, helped by strong growth in its flagship software CargoWise.
Shares of the firm were trading 2.9% higher at A$97.25 per share, as of 2338 GMT, but continue to hover around a six-month low it hit earlier in the week following an abrupt departure of four non-executive directors.
Chairman Richard Dammery along with three other directors are set to step down from the board due to "intractable differences" and "differing views" around White's role.
White, WiseTech's founder and its biggest shareholder, transitioned to a long-term consulting role with the newly created title of "founder and founding CEO" in late October, after media reports of allegations about his personal life including payments to an alleged former lover.
Now appointed executive chairman, White will oversee succession planning, including finding a permanent CEO, alongside the nomination committee, WiseTech said.
Andrew Cartledge, former chief financial officer, is currently serving as the acting CEO.
Separately, WiseTech reiterated its outlook of fiscal 2025 revenue coming around the lower end of forecast growth between 15% and 25% over last year. It also declared an interim dividend of 6.7 cents per share.
"WiseTech reported a good result, considering the turmoil the company is going through," analysts at Jefferies said.
($1 = 1.5755 Australian dollars)