AustralianSuper had been a shareholder since WiseTech's ASX listing in 2016, a period that created significant value for members, the fund's head of Australian equities Shaun Manuell said.
"We believe good governance is essential to delivering the value we identify in a company," he said.
"As a long-term active manager, our role is to allocate members' retirement savings to the companies we think are most likely to create value over the years to come."
WiseTech has been in trouble since Mr White stepped down as chief executive in October 2024 amid allegations of improper conduct with staff, including bullying and undisclosed workplace relationships.
At the time, AustralianSuper sold down its stake of about $700 million in the company, taking its holdings from 2.6 per cent to 1.9 per cent, or $580 million.
Mr White was cleared of improper conduct by an independent review in November 2024.
WiseTech was back in the headlines in February after Mr White dramatically retook control of the company he founded in 1996, becoming executive chair after three directors quit citing "intractable differences" about his role.
Shares plunged 20 per cent on the news, which prompted AustralianSuper's next big WiseTech sell-off, with the last of the fund's position liquidated this week.
"'We needed to see a sensible transition plan that got the balance right between governance and managing the founder's role over time in order to continue to remain a shareholder," Mr Manuell said.
'We have sold because recent developments have not met our expectations."Â
He said the fund could reconsider its position "should circumstances change".
AustralianSuper is the nation's largest superannuation fund and manages more than $365 billion in retirement savings for over 3.5 million members.
WiseTech traded slightly higher on Wednesday but is still down more than 34 per cent since Mr White retook control of the company in October.
