Corporate Jets Have No Place at the Beach
3M is dismantling its private-plane fleet and changing its travel policies. Other companies should scrutinize their own practices.
Orders for Gulfstream jets have continued to grow faster than the company can deliver the planes.
Photographer: Carla Gottgens/Bloomberg
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3M Co. is grounding its corporate jet operations. That’s more a reflection of the Post-it maker’s continued struggles than a statement on a business jet market that boomed during the pandemic and has just kept booming. But the rethinking puts a spotlight on a long-standing corporate governance quibble: When is it appropriate for the chief executive officer to take the company plane on vacation?