Corporate Travel Management (CTM) CEO Jamie Pherous bows to pressure amid ongoing accounting crisis.
Under-fire CTM founder Jamie Pherous has relinquished all executive functions at the company, with chief commercial officer Ana Pedersen taking over as interim chief while a permanent replacement is sought.
Pherous will remain with CTM in an advisory capacity under a consultancy period of at least six months.
“I acknowledge the recent challenges arising from accountancy matters, the company’s suspension, and the impact these have had on our customers, employees and investors,” Pherous conceded.
“I have decided to retire as CEO to allow new leadership to focus on the task ahead,” the outgoing leader added.
More details in today’s issue of Travel Daily.