Date: 24/12/2024
*** GENERAL ADVICE ONLY***
EXIT UNTIL FURTHER NOTICE
24 February 2025
WiseTech Board changes and guidance update
Four independent non-executive Directors currently serving on the WiseTech Board – being Lisa Brock, Richard Dammery, Michael Malone and Fiona Pak-Poy – have determined it is in the best interests of the Company to stand aside.
This followed intractable differences in the Board and differing views around the ongoing role of the Founder and Founding CEO, Richard White.
Their resignation will take effect after the signing of the half-year financial report and release of half-year results to ASX on Wednesday 26 February 2025.
The half-year results presentation will be given by Andrew Cartledge (Interim CEO), Caroline Pham (Interim CFO) and Richard White (Founder and Founding CEO).
Mike Gregg will commence as a director with effect from 26 February 2025 after release of half-year results to ASX, subject to satisfaction of customary director background checks. A summary of his credentials is attached to this announcement.
It is also proposed that additional directors will be appointed to the Board in due course.
Update on Guidance
The Board has reviewed progress of the Company’s activities having regard to the revenue and EBITDA guidance given to the market at the Company’s AGM. The Company now expects revenue to be at the bottom end of the guidance range, due to further delays to the rollout of the three announced Breakthrough Products. EBITDA margin rate is expected to be towards the top of the previously announced range, driven by stronger results from a company-wide efficiency program.
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