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Corporate Travel Management will continue to pay its departing chief executive Jamie Pherous for six months despite growing anger among shareholders that the travel services giant has failed to correct accounting errors that have seen its stock unable to trade for five months.
Corporate Travel chairman Ewen Crouch said the board had decided it was “time to accelerate the transition to a refreshed corporate structure that consistently meets the expectations of its stakeholders”, appointing chief commercial officer Ana Pedersen to replace Pherous.
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Corporate Travel Management founder Jamie Pherous has left the company amid an overcharging scandal in the UK. (Corporate Travel Management)
Jamie Pherous, the founder of the multi-billion dollar Queensland travel empire Corporate Travel Management, has resigned amid a scandal involving the overcharging of clients in the UK by about $150 million.
Mr Pherous will remain with the company for six months as a consultant.
The company's chief commercial officer Ana Pedersen will replace Mr Pherous as acting CEO while a "comprehensive search" is done to find his permanent replacement.
Jamie Pherous, the evangelical founder of Brisbane-based travel business Corporate Travel Management, has left the company amid an overcharging scandal in the UK potentially worth more than $150 million.
The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.
For more detailed information, explore updates concerning Corporate Travel chief.
