CTM Founder Steps Down as Ana Pedersen Takes Helm Amid ASX Suspension

Leadership Shake-Up at CTM

Corporate Travel Management Limited (ASX, CTD) has announced a significant leadership transition with the retirement of its founder and Managing Director, Jamie Pherous, effective immediately. After more than three decades at the helm, Pherous will step back from executive and board duties, transitioning into a strategic advisory role for six months. This move marks the end of an era for CTM, which has grown from a modest Brisbane travel agency into a global corporate travel powerhouse under his guidance.

New Leadership and Strategic Direction

Taking over as Acting Group CEO is Ana Pedersen, who joined CTM as Chief Commercial Officer in October 2024. Pedersen brings over 20 years of experience in corporate travel and technology sectors, including senior roles at BCD Travel and HRS Group. Her appointment signals a fresh approach as CTM seeks to stabilise and rebuild confidence following recent accounting issues that led to the suspension of its shares on the ASX.

The Board has emphasised that Pedersen’s immediate priorities include finalising the FY25 financial accounts with integrity, strengthening governance frameworks, and maintaining uninterrupted client service. Meanwhile, a comprehensive search for a permanent CEO is underway, with both internal and external candidates under consideration.

Support from Industry Veteran

To bolster the transition, CTM has appointed John Snyder, former President and CEO of BCD Travel, as a Special Advisor. His deep industry knowledge is expected to provide valuable guidance as the company navigates this critical period.

Addressing Challenges and Looking Ahead

Chairman Ewen Crouch acknowledged the frustration among shareholders due to recent accounting matters and the ASX suspension, affirming the Board’s commitment to resolving these issues promptly. Pherous himself recognised the challenges but expressed confidence in Pedersen’s leadership to steer CTM towards sustainable success.

Pedersen’s remuneration package reflects the importance of her role, with a $1 million fixed salary plus incentives tied to performance. The company’s focus remains on restoring market trust and ensuring CTM’s evolution as a resilient and well-governed organisation.