THE embattled chief executive officer of Corporate Travel Management (CTM) has bowed to pressure and resigned from his role amid an ongoing accounting crisis.
Jamie Pherous founded and grew the business from a small operation in Queensland to a global enterprise, however a recent reporting scandal has seen the executive forced to relinquish all functions from today.
The company’s chief commercial officer Ana Pedersen has been appointed interim leader while a permanent replacement is found.
Pherous will remain with CTM in a strategic advisory role under a consulting agreement for a period of at least six months.
The board has also appointed John Snyder as a special advisor to help steer the company through this turbulent period.
As the former CEO of BCD Travel, Snyder brings global corporate travel expertise to the table.
Reflecting on his tenure and exit, Pherous said building CTM had “been a great privilege”.
“I acknowledge the challenges arising from the recent accounting matters, the company’s suspension, and the impact these have had on our customers, employees and investors,” he said.
