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White last year resigned as CEO after issues regarding “inappropriate behavior,” according to media reports. But he then made a return as executive chairman in February. Former WiseTech executive Zubin Appoo was brought in as CEO in July. The e2open acquisition closed in August. E2open was acquired for $2.1 billion, which equated to $3.30 per share. That was about a 28% premium over the stock price prior to the announced acquisition. WiseTech’s core product is execution software CargoWise. But it owns a lineup of other logistics software providers. Its web page lists 20 other companies, and e2open has not yet been added to the list. According to media reports, Morningstar has issued its outlook on WiseTech which sees a significant impact to the company if White is forced out yet again. Morningstar analyst Roy Van Keulen said in a research note, according to report, that his company would reduce its estimated value of WiseTech by 15% to 20% should White depart. “Both the rate of growth and the ultimate progression of the business would shrink,” he said, according to the media reports, which added that Morningstar considered the chance of White’s ouster as a result of the stock trading probe to be small. More articles by John Kingston DAT execs in two forums discuss how it seeks to reshape the freight sector State of Freight takeaways: some signs are pointing higher
