Morningstar lowers estimate on WiseTech post White's resignation plans
** Morningstar lowers fair value estimate on Australia's WiseTech Global WTC.AX by 4% to A$105 post Richard White's stepping down as CEO
** WTC, on Thursday, said Chief Richard White will step down, an announcement that follows media reports of allegations about his personal life, including payments to a past sexual partner
** Brokerage considers White's new consultant role to the tech firm as a demotion and a strong signal from the board
** Expects White will be able to continue driving company's CargoWise product vision and strategy
** Considers White’s continued involvement with company's business a positive outcome for shareholders
** Fair value estimate downgrade is based on our assessment that the company will likely be run with less fiscal discipline than before - Morningstar
** "We expect WiseTech to leverage its already dominant position in international freight-forwarding to move into downstream adjacencies" - Morningstar
** Stock is up 31.8% this year, as of last close
Reporting by Rishav Chatterjee in Bengaluru
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