A leading hedge fund has called for Corporate Travel Management’s chairman and chief executive to resign, after an embarrassing admission that the company owes £80 million ($162 million) to customers in the United Kingdom who were overcharged.
The chief executive of Corporate Travel Management’s Europe and UK business, Michael Healy, was temporarily stood down pending the outcome of an investigation by KPMG, as accounting failures at the travel agency were shown to run far deeper than previously thought.
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