Corporate Travel Management (ASX:CTD) appointed Chief Commercial Officer Ana Pedersen as Acting Group Chief Executive Officer, according to a Monday filing with the Australian bourse.

Founder Jamie Pherous will step down from his executive and board roles, effective immediately, the filing said.

Pherous will transition to an advisory role under a consulting agreement for six months, the filing added.

The company will start the search for a new Group CEO, the company said.