GM Downsizing Jet Fleet, CEO Still Flies High
Company Reducing Number of Jets, But Top Execs Keep Perk
It's Up to the Board of Directors
But some experts say it is time for the boards of these struggling companies to readdress their outdated policies from more profitable eras.
"It's sometimes true for security reasons that CEOs will need to fly in corporate jets, but I've never bought the argument much," said Tom Donaldson, professor of business ethics at the Wharton School of Business at the University of Pennsylvania.
"One thing's for sure, the board of directors has the power and the board of directors can make it okay for them to fly commercial if that's what they want," said Donaldson.
Indeed the GM spokesperson said the company will continue to monitor its travel costs and policies very closely.
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