BizJournals Portfolio

And Wives Fly Free!

Were they heading to a dull shareholders meeting or a daiquiri-dappled chaise longue? Only the C.E.O.'s (and their spouses) know.

Relocation, Relocation, Relocation Relocation, Relocation, Relocation

When public companies hire C.E.O.'s, shareholders often supply the moving vans—and occasionally the homes too. Read More

Business travel isn’t always about time off from the family: Some companies fly executives’ wives too. (A range of proxy reports reveal no C.E.O.s’ husbands flying on the company dime.)

Wal-Mart
Last year, Wal-Mart paid for two board members’ “spousal travel expenses, meals, and related ­activities” (plus tax grossups). A $31,221 tally for James Cash Jr. included travel for his wife, Clemmie, and the $27,285 total for Roger Corbett covered his wife, Rosemary.

Until January, New York Times Co. vice chairman Michael Golden was publisher of the International Herald Tribune. The company spent $28,867 last year to fly his wife, Anne, between New York and Paris.

Perhaps it’s not surprising that a cruise-industry giant knows how to pamper an executive’s family. Royal Caribbean Cruises last year covered $17,992 worth of “membership dues, discounts on company cruises, and expenses for spousal travel” for chairman and C.E.O. Richard Fain and his wife, Colleen.

Champagne glasses
But even relatively unsexy companies seem to know the value of a change of scenery. Pioneer Natural Resources spent $58,818 on travel and entertainment for chairman and C.E.O. Scott Sheffield’s wife, Colleen. The contract of Ronald Halls, president and C.E.O. of Foot Locker, permits his wife, Jennifer, to accompany him on as many as eight business trips annually. Last year, such jaunts cost the company $91,499.


Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

Connect With Portfolio.com

Come on, like us—you know you want to.

Follow us and if you're an innovative entrepreneur, we'll return the favor.

Today's top stories, conversation starters, and the back nine business bites.

spotlight on

Slideshows

500 Startups Hits New York

Dave McClure's brainchild makes its way to New York and introduces East Coast money folks to some intriguing new companies. View Slideshow