👉 Background: WiseTech is a logistics software platform that was founded in 1994 and has made more than 40 acquisitions since 2016. It has grown into one of the biggest tech companies in Australia. Over the past few months, WiseTech's founder Richard White has faced serious allegations including undisclosed relationships and conflicts of interest.

‍👉 What happened: Last month, four of WiseTech’s independent directors resigned from the board after White remained closely involved in the company. And now, Australia's largest super fund, AustralianSuper has sold its entire $580 million stake due to these governance failings.

‍👉 What else: It ain’t just AustralianSuper who’s concerned. Since the board resignations, WiseTech shares have fallen over 30%. Nothing like a bit of investor activism to get companies to make changes.

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‍What's the key learning?

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‍💡Investor activism is when investors use their equity stake to push for changes within a company. This includes pushing for better governance, or better environmental or social initiatives.

💡In recent years, superannuation funds as well large institutional investors have used their large investments to try influence company behaviour. And, the WiseTech case isn’t the only example of super funds trying to rally behind social issues in the companies they invest in.

💡For example, super funds like Australia Retirement Trust, Cbus and Hesta have rallied together and warned that they may vote out men on boards if women don’t occupy a minimum of 30% of company board seats.