WiseTech co-founder Richard White will retain a spot on the board despite stepping down as executive chair as he denies allegations he exploited a worker's financial and visa status for sex.

Raelene Murphy has been appointed the board's independent chair, effective immediately, while Mr White will remain as an executive director and continue his role as chief innovation officer.

"Recent personal media attention is creating an unnecessary distraction from the strength of WiseTech's business," he said in a statement on Tuesday.

"At this time, the senior management team, (chief executive) Zubin (Appoo) and I should be singularly focused on the execution of the company's growth strategy."

WiseTech shares plunged in June following reports the Australian Federal Police were probing allegations Mr White had coerced a Brazilian cleaner into a sexual relationship.

The AFP was also reportedly investigating allegations he provided false information on a visa application.

Mr White denies the allegations.

"As I have stated previously, I strenuously and unequivocally deny the recent allegations in the media," he said.

"Further, I am conscious that personal attacks on me in the media that are unconnected to the performance of the company nevertheless have the potential to encourage short selling activity."

WiseTech's share price soared more than eight per cent higher by 1pm AEST on Tuesday following the announcement on market open.

Shares surged more than seven per cent on Monday, before the announcement and well ahead of the broader IT sector, which gained 0.9 per cent.

The board shake-up was a step in the right direction to improve WiseTech's governance concerns, RBC Capital Markets analyst Jackson Lee said.

"That said, while structural improvements in board composition are positive, the market will likely want to see ongoing evidence that the refreshed board, CEO, and chief innovation officer, operate independently before attributing any meaningful re-rating," Mr Lee said.

A former market darling, WiseTech's share price has plummeted by more than two-thirds since early 2025 after a series of scandals and boardroom fallouts.

These included accusations Mr White misappropriated company funds and had improper, close relationships with staff, although an external review later cleared the co-founder of misconduct.

In October 2025, the AFP and Australian Securities and Investments Commission raided WiseTech offices over allegations Mr White and three employees sold more than $200 million in shares during prohibited blackout periods.

At the time, WiseTech vowed to fully co-operate with any investigation and noted no charges had been laid against any person or the company itself.

In May, the company flagged plans to slash around 2000 jobs, roughly a third of WiseTech's workforce, as part of the company's artificial intelligence push.

The move drew the ire of workers and unions after Mr White boasted about replacement AI bots that could be trained in 15 minutes.

Some employees were required to sign clauses preventing them from working for competitors for a year in order to secure redundancy packages.

About the same time, Mr Appoo received a handwritten threat of physical violence, which included personal information and mentioned his family.

Incoming independent chair Ms Murphy defended Mr White.

"My personal experience working with Richard is totally at odds with media reports," she said.

"I have found him to be an incredibly hardworking, focused and committed founder who has built a leading global technology business with enormous potential to continue to grow stronger and thrive."