Health insurer Humana Inc. spent about $323,000 last year letting incoming CEO Bruce Broussard use company aircraft to commute to work.

The Louisville, Ky., company said the expense was part of its employment agreement with Broussard, according to an annual proxy statement filed Monday with regulators. The 50-year-old executive joined Humana as president in late 2011 and became CEO on Jan. 1, 2013, replacing long-standing chief executive Michael McCallister.

Companies routinely spend about $200,000 on travel for top executives aboard company aircraft, said Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware. But he said that figure normally includes trips to meetings, events or hard-to-reach company locations.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Core and Group Health
Employer-Paid