Bank of America CEO ranks high for corporate jet use | The Charlotte Observer

The head of the Charlotte-based bank was fifth among Fortune 100 executive officers based on the size of aircraft perks in 2014, according to the latest available data from compensation-research firm Equilar. The value of Moynihan’s benefit puts him under former CEOs of Procter & Gamble and Boeing and above CEOs of Walt Disney Co. and General Electric.It’s not a new occurrence for Moynihan, who ranked fourth in 2013 and second in 2012. But this year a prominent shareholder advisory firm says investors would benefit from more details on why the bank provides jet perks “that far exceed market norms.” In 2015, the benefit was valued at $380,323.Bank of America spokesman Lawrence Grayson said Moynihan’s aircraft costs are associated with the CEO’s commuting. Since taking over in 2010, Moynihan has continued to live in Boston with his family while flying to Charlotte to work at the bank’s uptown headquarters tower, a round trip of about 1,400 miles.

Source: Bank of America CEO ranks high for corporate jet use | The Charlotte Observer

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s