While many executives continue to work from home, data shows that travel by corporate aircraft and chartered and fractionally owned jet fleets has begun to take off in recent weeks. That trend is likely to continue through 2020 as companies seek to reduce the risk of CEOs’ being exposed to the coronavirus. Accordingly, sources say boards should take a renewed look at corporate aircraft and private jet travel policies.
Meanwhile, the SEC has spent the past several years pursuing enforcement actions stemming from the improper disclosure of executives’ personal use of corporate aircraft, as Agenda has reported, creating a dynamic governance issue that is ripe for scrutiny.
“There has been a lot of pressure in recent years to keep [aircraft perquisite] figures down, so this is a perk that over the years has been in decline, along with country clubs and other things,” says Alan Johnson, CEO of compensation consulting firm Johnson Associates. “But I think the long-lasting implications of the pandemic are going to change everything. There’s business use of the planes, which is going to accelerate dramatically because there are fewer commercial flights … this is a different world.”
Boards have been steadily reinforcing their ranks through the addition of more directors with military…
Governance Professionals Caution Against Knee-Jerk Reactions to Shifting Political Winds Meta Platforms added Dana White,…
Where CEO pay climbed and performance sank last year Danaher and United Parcel Service were…
As artificial intelligence grows more accessible, boards may have no choice but to embrace it…
A look at the demographics and skills of S&P 500 directors. Corporate boards have greater…
Companies with independent directors who've served on the board for more than 15 years are…