CEO safety costs
Chesapeake Energy Chariman Aubrey McClendon gets a mention in this article about security for high-profile CEOs from Forbes.com.
America’s largest corporations are paying millions of dollars a year to protect their C-level talent, particularly the CEO. That personal security, as described in compensation reports filed with the U.S. Securities and Exchange Commission, includes everything from computerized home systems to use of company aircraft domestically and internationally, both for business and personal matters. The cost incurred by companies falls under the perquisite, or “perk,” category.
The story notes that some companies, seeking safety for their leaders, require them to fly on private jets for all corporate and some personal travel. Chesapeake last year spent $600,000 on McClendon’s private flights.
Click here to see McClendon’s 2007 compensation report. You’ll have to scroll down one screen to see the section on personal aircraft use, but I’m betting you’ll check out those salary, bonus and stock award categories before you hit “page down.”
Don Mecoy
Business Writer
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