• Founder and Managing Director Jamie Pherous to retire, transition to strategic advisory role
• Board appoints Chief Commercial Officer Ana Pedersen as Acting Group CEO
• Search process underway for permanent Group CEO, considering internal and external candidates

Corporate Travel Management Limited (ASX: CTD) has announced that its Founder and Managing Director, Jamie Pherous, will retire from his executive and board roles effective immediately and transition to a strategic advisory role under a consulting agreement for a period of six months. The Board has appointed Ana Pedersen, the Company's Chief Commercial Officer, as Acting Group CEO. The Board will undertake a comprehensive search process for the role of Group CEO, considering both internal and external candidates, before making a permanent appointment. Ms Pedersen joined CTM in October 2024 and brings a wealth of experience in global travel and corporate services, having held senior leadership roles across sectors including corporate travel, hospitality, and technology. The Board has also appointed John Snyder, a highly respected former President and CEO of BCD Travel, as a Special Advisor to provide deep global corporate travel expertise during this transition period. Chairman Ewen Crouch stated that the Board has determined, in consultation with Jamie, that now is the appropriate time to accelerate the transition to a refreshed corporate structure that consistently meets the expectations of its stakeholders. Founder Jamie Pherous acknowledged the challenges arising from recent accounting matters and the Company's suspension, and expressed confidence in Ana Pedersen's ability to position the Company for sustainable success.

The Company has not provided any high-importance, price-sensitive forward-looking financial metrics or guidance.

The Company has not provided any forward-looking outlook statements.