Why WiseTech shares are pushing higher again on Tuesday

WiseTech Global Ltd (ASX: WTC) shares are heading north on Tuesday.

At the time of writing, the WiseTech share price is up 3.17% to $44.87.

Today’s rise continues what has been a strong turnaround over the past month, with the logistics software stock climbing around 50% over that period.

There is still a long way to go, though. WiseTech shares remain down around 35% since the start of 2026 and are trading more than 60% below their 52-week high of $115.75.

And investors have another development to digest today after the company announced a new appointment to its board.

Let’s dive right in!

WiseTech adds another independent director

WiseTech announced this morning that Tim Ebbeck will join the board as an independent non-executive director from 1 September.

He will also become chair of the Audit & Risk Committee and join the People & Remuneration Committee and Nomination Committee.

Ebbeck has spent much of his career in senior technology and finance roles. He has previously led Oracle Australia and New Zealand and SAP Australia and New Zealand, while also holding senior positions at NBN Co and ANZ Group Holdings Ltd (ASX: ANZ).

WiseTech chair Raelene Murphy said his experience across technology, financial management, and governance would further strengthen the board.

The appointment forms part of an ongoing board renewal program. Once Ebbeck joins, WiseTech will have 5 independent non-executive directors and 2 executive directors.

However, there is another part of today’s announcement that caught my attention.

An interesting AustralianSuper connection

As reported in The Australian, Ebbeck currently serves as a nominee non-executive director and senior adviser to AustralianSuper.

That connection stands out because AustralianSuper was previously one of WiseTech’s major shareholders before selling its entire $580 million stake in March 2025.

The super fund said at the time that it could not get “sufficient comfort” around WiseTech’s governance following several months of board and management upheaval.

AustralianSuper also wanted to see a sensible transition plan around founder Richard White’s role and said it could reconsider its position if circumstances changed.

There’s nothing in today’s announcement to suggest AustralianSuper is looking to buy back into WiseTech. Still, appointing one of its senior advisers to the board is noteworthy given the fund’s previous concerns.

WiseTech shares continue to recover

Today’s gain continues the recent recovery, although the past week has been far from quiet.

WiseTech shares fell 8.7% to $39.58 last Wednesday after the ACCC executed a search warrant at the company’s headquarters.

The warrant forms part of an investigation into alleged breaches of competition law relating to the supply of global logistics services and software. WiseTech said it intends to fully cooperate with the investigation, which remains ongoing.

Despite that setback, the shares have quickly recovered and are now trading above where they were before the announcement.

The rebound has been impressive, but investors still have plenty to weigh up.

Much of the attention now turns to WiseTech’s financial results, which are due to be released tomorrow.