In the proxy that CKE filed last Thursday they disclose that they spent just over $60,000 covering CEO Andrew Puzder's medical and dental expenses last year. That's an unusually high number -- the other NEOs run between $5K and $13K.
In checking in with our resident expert on the subject Michelle Leder of Footnoted.org, she said the number isn't just high compared with others numbers there, but it's out of whack when compared with any other companies she has seen this year.
What type of expenses would the company spend on the CEO that would not be covered by ordinary health insurance? Is he seriously ill?
Or did the California Longevity Institute brain wash him into spending thousands on finding eternal life?
Over the years I have been very critical of CKE's excessive compensation and the millions spent on perks like a Cessna Citation X for a company with a market value of only $500 million. I would bet this is just another example of the shareholders getting the short end of the stick.
The board needs to be trying to figure out why Carl's Jr. continues to lose market share!