WiseTech Global (ASX:WTC) has named Zubin Appoo, a long-time collaborator with founder Richard White as the logistics software company’s new CEO.
He takes over, effective immediately, from interim CEO Andrew Cartledge, WiseTech’s former CFO, who had to step into the role following the resignation of White last October amid claims of inappropriate workplace behaviour, which he was largely cleared of following an external review. Cartledge will retire, as previously announced, at the end of this year.
Appoo will be on a smaller salary than White, who was paid $1 million, with an annual base salary of $700,000, a remuneration equity grant of $700,000 in share rights, but has the chance to top it up with a performance incentive of up to $700,000 annually in share rights, plus a stretch bonus of up to $350,000, also in share rights.
He’s been a WiseTech shareholder since 2005.
The new CEO worked alongside White at WiseTech between 2004 and 2018, to shape the company’s growth strategy. Over the last seven years his CV has included chief technology officer at InLoop, Flexischools and HICAPS (an NAB business) and as CEO at Find a Carer.
In a statement to the ASX, WiseTech said Appoo will collaborate with and support White, now executive chair of the business, with long-term product vision, innovation and strategic investment.
“This leadership model ensures the complementary strengths of both our executive chair and CEO are fully harnessed – with the CEO accountable to the Board for
operational performance and strategic execution,” the statement said.
Independent director Andrew Harrison added that: “the Board sought a leader who could seamlessly partner with our cofounder and executive chair, while also operating independently and decisively as CEO. Zubin understands WiseTech’s DNA and ambition. With his return, we are confident in the strength of our leadership and their ability to drive long-term value for shareholders.”
White said Appoo was “uniquely qualified to lead the WiseTech team” due to his deep understanding of the business, its culture and products, as well as the logistics industry.
“Since rejoining WiseTech as Chief of Staff, Zubin has been working closely with our senior leadership team, our development teams, as well as customers, and investors,” White said.
“He has immersed himself in WiseTech’s business operations with a focus on driving innovation, value creation, and efficiencies. His extensive prior experience at WiseTech, and his performance since rejoining prove he is able to lead WiseTech.”
WiseTech’s customer base includes more than 16,500 logistics companies in 195 countries.
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