Canoo is publicly traded, isn’t it? Wouldn’t this raise questions of breech of fiduciary responsibility?
Comment on Canoo spent double its annual revenue on the CEO’s private jet in 2023
Potatos_are_not_friends@lemmy.world 7 months ago
Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft. In 2023, Canoo spent $1.7 million on this reimbursement — that’s double the amount of revenue it generated. Canoo paid Aquila Family Ventures $1.3 million in 2022 and $1.8 million in 2021 for use of the aircraft.
In other words, he uses company profit to pay his private company to pay for his rides.
partial_accumen@lemmy.world 7 months ago
Kraven_the_Hunter@lemmy.dbzer0.com 7 months ago
Well, he uses company revenue anyway. There may not be any profits to dip into, which makes this even worse.
some_guy@lemmy.sdf.org 7 months ago
Hey, if a ceo was meant to drive, we wouldn’t have invented planes.