Australian billionaire Richard White has announced he will step down as the CEO of technology company WiseTech, effective immediately.

Earlier this week, Mr White settled a civil court case which had involved accusations that he reneged on a business deal with a woman with whom he had begun a sexual relationship.

The company’s share price has fallen more than 25 per cent over the past week after reports in Nine newspapers about a number of relationships Mr White had with female employees and people outside his company.

WiseTech chair Richard Dammery had been meeting investors to try to reassure them before the company announced Mr White’s resignation on Thursday afternoon.

The company’s current chief financial officer Andrew Cartledge will take over from Mr White as interim CEO.

In a statement, Mr White said he remained “absolutely committed” to the company he founded 30 years ago.

“It has been a challenging time for me personally, my family and close friends, and for the company that I have built and truly love,” he said.

“I want to assure all those who have supported WiseTech, as customers, colleagues and shareholders, that I remain absolutely committed to seeing this incredible organisation continue to thrive and grow in the coming years.”

Mr White said his resignation as CEO comes after he and Mr Dammery had spent “many months” discussing “the evolution of the company and succession of the CEO role”.

The company told the ASX that Mr White would now take a short period of leave from WiseTech, before beginning a long-term consulting role “focused on product and business development” on his return.

“By proposing this change in role, Richard has put the Company and its shareholders first, and he has taken the natural next step in evolving his role as founder to best add value to WiseTech for the long-term,” Mr Dammery said in a statement.

WiseTech’s board said enquiries into “the specific issues raised in recent media coverage” were ongoing, and has hired law firms Herbert Smith Freehills and Seyfarth Shaw to assist with its review.

“As a Board we are highly engaged and focused on completing our review to support the business’ continued success,” Mr Dammery said.

Shares in WiseTech Global shed 6.3 per cent during trade on Thursday, to $99.37.

More than $4.6 billion has been wiped off the company’s value over the past week.