With the rollercoaster ride that ASX shares have been on over the past month or two, many companies have come off the boil and are trading at the cheapest prices we've seen in 2025 so far. ASX 200 tech share WiseTech Global Ltd (ASX: WTC) falls into this bucket.

WiseTech stock has had a horrid and volatile few months. As recently as late November, this logistic solutions company was trading at more than $140 a share. Today, those shares are going for just $88.74 at the time of writing, a good 37% or so below that November high.

Unusually for an ASX share, this precipitous fall in value has nothing to do with WiseTech's underlying fundamentals. Indeed, the company's half-year earnings report, which was dropped on 26 February, arguably showcased a business with everything going for it.

For the six months to 31 December, Weisetech reported a 17% rise in revenues to US$381 million and a 34% jump in net profits after tax to US$112.1 million. The company's dividend also received a huge boost, rising 31% to 6.7 US cents per share.

Nothing much to complain about there.

However, there is more to complain about when it comes to WiseTech's management. It's no secret that investor confidence in WiseTech, for many years a market darling, has been shaken by the antics of its co-founder, former CEO and current chair, Richard White.

Some rather sordid details about White's private life have become public over the past few months.

To make matters more controversial, the role of White in the company has also been shaky.

White controversy continues to weigh on WiseTech shares

Initially, White resigned from his position as CEO last October in response to these controversies and took on a 'consulting role'. But this role, which White didn't seem to regard as a demotion, proved unpopular with WiseTech's board. Last month, no fewer than four board members resigned en masse in protest.

In the aftermath of this mass exodus, WiseTech announced that White would be stepping back up as executive chairman of the company.

Despite his habitual share sales, White remains the largest single shareholder in WiseTech, owning around a third of the company's stock. As such, it seems things are done White's way at WiseTech, regardless of the views of other board members or shareholders.

This is not uncommon, particularly for tech shares. There are countless examples of companies around the world where founders wield unrivalled power at the expense of shareholders and other investors. Meta Platforms' Mark Zuckerberg is a good example, as is Alphabet's Sergei Brin and Larry Page, or Tesla's Elon Musk.

It seems to have worked out well for these stocks (Tesla perhaps not so much).

Once, I viewed WiseTech as a no-brainer buy for ASX investors, with the only obvious impediment to an investment being the lofty share price.

However, White's antics have given me pause when it comes to WiseTech. It's clear that White isn't going anywhere anytime soon. As such, I think it's likely that controversy continues to dog the company going forward.

As such, I won't be investing in WiseTech, even after the sizeable share price slump that we've seen. I like companies where management is united on a path to future prosperity, not trying to manage a colourful and wayward executive chairman.