What The.... ! Abercrombie Paying Its CEO $4 Million Not To Fly His Private Jet

Michael Jeffries

Photo: Cynical-C.com

Abercrombie and Fitch is actually paying its CEO $4 million in a lump sum to not fly in the company’s private jet, according to the Wall Street Journal.The company, known for its youth clothing and racy catalogues, is paying its CEO to limit his personal use of the private jet after racking up bills of $850,000 a year from 2006 to 2008 on average, with a staggering $1.1 million in private jet travel spending in 2008 alone.

The payout is a one time only event for the CEO Michael Jeffries, but if he decides to leave before 2014, he will have to pay back part of the $4 million.

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