Corporate Travel Management (ASX: CTD) has permanently appointed Ana Pedersen as managing director and CEO, ending a leadership search that began when founder Jamie Pherous retired from all executive and board roles in February.
Pedersen, who has been serving as acting CEO since Pherous's departure steps into the permanent role from today, almost two years after joining Corporate Travel Management as global chief commercial officer before being elevated to the acting position.
The appointment comes as Corporate Travel shares remain suspended from trading since August last year as the company continues to grapple with a UK accounting scandal involving forged customer agreements and revenue reversals of up to £118 million ($230 million).
"Since stepping into the role of acting group CEO, Ana has provided steady and considered leadership during what has been a particularly challenging period for CTM," says Corporate Travel Management chairman Ewen Crouch.
"She has navigated difficult and complex circumstances with professionalism and composure, maintaining focus on client delivery and supporting the interests of our people.
"The board is confident that Ana is the right person to lead CTM through its current challenges and position the company for long-term success."
Pedersen has extensive senior leadership experience in the corporate travel, hospitality and technology sectors globally, including 16 years with BCD Travel.
Corporate Travel Management says this gives Pedersen "deep industry expertise and strategic acumen equip her well" to lead the company.
"I am pleased to continue leading CTM, and our focus is on advancing our priorities with discipline and clarity, while working toward fair and timely outcomes for those affected," says Pedersen.
"We remain committed to delivering for our clients and supporting our people, who are at the heart of our business.
"We know there is more to do, and we are doing everything we can to make meaningful progress.”
Pedersen's annual fixed remuneration rises from $1 million in the acting role to $1.2 million in the permanent position. Her FY26 short-term incentive is set at $500,000 and her long-term incentive at $1 million, bringing her total potential package to up to $2.7 million.
The leadership transition also follows the recent resignation of company secretary and group chief legal officer Shelley Sorrenson, who departed just days before the CEO announcement was made.
Corporate Travel's shares remain suspended from trading on the ASX pending the lodgement of its outstanding financial statements.
The company announced last month that is is likely to lodge its FY25 and first-half FY26 financial statements in August.
CTM has flagged expected goodwill impairments across three reporting segments totalling about $324 million.
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