Australian billionaire Richard White, co-founder of logistics software company WiseTech Global, has announced he will step down from his role as CEO following allegations of inappropriate behaviour which has cost the company billions.

White settled a civil court case earlier this week after he was accused of renegotiating a business agreement with wellness influencer Linda Rogan when their alleged relationship ended.

WiseTech’s share price has fallen more than 20 per cent in the past week, following reports by Nine about relationships White reportedly had with female employees and other women outside the company.

Nine reported that Rogan accused White of demanding sex for his investment backing, and had approached other female entrepreneurs “with offers of professional support that could shift into crude or suggestive language”.

Rogan also alleged she was turfed out of a $13.1 million Sydney mansion White had bought for her after his partner Zena Nasser found out about their relationship.

In a statement, White said it had been “a challenging time for me personally, my family and close friends, and for the company that I have built and truly love”.

WiseTech said White would step down immediately to take “a short period of leave” before transitioning to a full-time consultancy role "focused on product and business development", with his salary unchanged at $1 million per year.

A spokesperson for the Tech Council of Australia, which represents technology companies and counts WiseTech Global as a member, confirmed White had also resigned from its board.

"I will need to renew my focus on WiseTech and its growth, and on my family," White said in his letter to the organisation.

‘Now is the right time'

WiseTech said its current chief financial officer, Andrew Cartledge, would take over from White as its interim chief, with its deputy CFO Caroline Pham to become interim CFO.

The company's chair Richard Dammery said White had “put the company and its shareholders first” by stepping down.

He described the move as “the natural next step in evolving his role as founder to best add value to WiseTech for the long-term".

“Richard has consistently demonstrated a rare combination of foresight, intellect, capability and ambition,” he said.

“All great entrepreneurs achieve what others consider to be impossible, and Richard has most certainly done this at WiseTech.”

White said he remained “absolutely committed” to the company and had been discussing succession plans with Dammery “for many months”.

“I strongly believe that now is the right time for me to make this transition and the board agrees,” he said.

“This new role will allow me to focus on product and business growth, to create even greater value for shareholders and customers over the long term.”

Under the new consulting arrangement, White’s contract can be terminated by either party with two years’ notice, except if there is misconduct or a material breach.

WiseTech said law firms Herbert Smith Freehills and Seyfarth Shaw had been hired to help it review “the specific issues raised in recent media coverage”.

"As a board we are highly engaged and focused on completing our review to support the business' continued success," Dammery said.

White, who is one of Australia’s richest people, co-founded WiseTech Global in 1994 and owns more than 37 per cent of the company.

With a market capitalisation of more than $33 billion, it is the largest tech firm listed on the Australian Stock Exchange.