(Bloomberg) -- WiseTech Global Ltd.’s billionaire founder and chief executive officer, Richard White, stepped down after a series of damaging allegations over his relationships with several women. White will take a short break before switching to a new ...

Australia's WiseTech Global said on Thursday its chief executive, Richard White, will step down with immediate effect, just two days after local media reported the settlement of a lawsuit between him and a woman reported to be his former lover.

Australia's WiseTech Global said on Thursday chief executive Richard White will step down, just two days after a court filing showed the settlement of a lawsuit that triggered a series of personal allegations about the billionaire.

The saga has cost the software provider billions and shaken Australia’s reputation for strong corporate governance.

WiseTech Global Ltd.’s billionaire founder and Chief Executive Officer Richard White stepped down after a series of damaging allegations over his relationships with several women.

The billionaire businessman will return as a full-time consultant on the same salary he enjoyed as chief executive of the company he founded three decades ago.

Richard White has announced he will step down as the CEO of WiseTech Global, effective immediately, after a series of allegations against him wiped billions off the company's share price.