The Corporate Travel Management Ltd (ASX: CTD) share price is more than 3% higher this morning following the announcement of a new CFO. Here’s what you need to know.
About Corporate Travel
Corporate Travel Management is a provider of travel management solutions to the corporate market. They pride themselves on personalised service excellence and client-facing technology solutions, and these traits have helped them to win AFTA’s award for Australia’s Best Corporate Travel Management Company twelve times. They are currently operating throughout Australia, New Zealand, North America, Europe and Asia.
New CFO
Shares are up this morning following the announcement that the current Chief Financial Officer, Steve Fleming, will be shifting focus to Corporate Travel’s European operations after the release of full-year results, making way for Neale O’Connell as the new Global CFO.
Mr O’Connell is the former CFO of Tatts Group. He left the role following the Tatts Group merger with Tabcorp Holdings Limited (ASX: TAH).
Corporate Travel Managing Director Jamie Pherous welcomed the appointment.
“Neale brings highly relevant experience to CTM as we move toward the next phase of our development and aspire to be an ASX 100 company,” he said.
Mr Pherous said that Tatts and Corporate Travel have a similar reliance on technology, so Mr O’Connell’s experience will be valuable to the business.
Where To Next?
While the share price is moving higher today, Corporate Travel shares still have a long way to go to recover the losses that followed the half-year results and a damaging short report.
If Corporate Travel can deliver a positive full-year result, the share price might rally as the troubles earlier in the year are forgotten, but it’s not a company I know well enough to guess whether that will happen.
I’d rather invest in one of the companies mentioned in the free report below.
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Disclosure: At the time of writing, Max does not own shares in any of the companies mentioned.
