BJ’s CEO Paid $4.4 Million
Boston, B.J. Wholesale Club chairman and CEO Herbert J. Zarkin was compensated $4.44 million in 2006, which included more than a half-million dollars to pay for private jet flights that, among other trips, logged flights from Zarkin’s Florida home in Boca Raton and the company’s headquarters in Natick, Mass. The analysis is based on a regulatory filing.
In response to press inquiries about the expenditures, the company issued the following statement: “In establishing its travel policies, BJ’s weighs carefully the costs and benefits of executive travel options including factors such as convenience, efficiency and the safety and security of key executives. According to the company’s strict policy, noncommercial air travel is authorized for the chairman of BJ’s board of directors and CEO, as well as certain other key BJ’s executives.”