WiseTech Global billionaire CEO Richard White steps down as company rocked by allegations of secret affairs

The Australian founder has seen his reputation and fortune hammered by claims including sex in exchange for investment and houses bought for lovers

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Richard White, the embattled founder, chief executive and major shareholder of Australian tech giant WiseTech, has stood down from the company with immediate effect" after weeks of damaging revelations about his personal life hammering the company's reputation and share price.

In a Thursday statement to the Australian Stock Exchange, WiseTech's board said it agreed to White's request to leave the company he founded in his basement in 1994 and turned into a $36bn global logistics software behemoth.