Humana spends $323K on commuting costs for new CEO

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Associated Press

Posted on March 4, 2013 at 5:01 PM

Updated Monday, Mar 4 at 5:01 PM

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

The Louisville, Ky., company says in its annual proxy filing with regulators that the expense was part of its employment agreement with Broussard. The 50-year-old executive joined Humana as president in late 2011 and became CEO on Jan. 1, 2013.

Humana representatives did not immediately respond to Associated Press questions about the total.

Corporate governance expert Charles Elson says companies routinely spend about $200,000 on travel for top executives aboard company aircraft. But that includes trips to meetings and company sites. He called the total spent on Broussard's commute a big number.

Elson directs the Weinberg Center for Corporate Governance at the University of Delaware.

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