Globe-Trotting CEOs Fly on Corporate Jet as Perk Stigma Wanes
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While U.S. boards have curtailed company-paid perks like hunting lodges and golf club memberships, CEOs are cranking up personal use of corporate jets.
The boards defend the perk as a tool to guarantee security and reduce wear and tear on globe-trotting executives. The result: Non-business travel expenses rose for the third straight year in 2013, proxy filings show. Gone is the outrage at CEOs flying in high style that peaked during the recession.