Private Air and a spare

Would you hide something stupid from the Board?

“GE Board in Dark on CEO’s Use of Extra Jet,” The Wall Street Journal, October 30, 2017 B1.  As if it weren’t bad enough that the CEO flies on the company plane, it appears that he brought a second plane along, just in case.

Now why would you keep that secret?  Even after an internal complaint several years ago?  How do you define waste?  Who thought that this was an appropriate use of the shareholders’ money?

Might there be gaps in the compliance program?  If this slipped through, what else is out there?

 

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Filed under Board, Compliance, Controls, Corporation, Culture, Culture, Directors, Duty, Employees, Governance, Information, Internal controls, Oversight, Oversight, To report

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