You'd be surprised...

I worked for an international (mothership in the UK, later acquired by the US) company, which had... sort of a similar policy.

So, the (mothership) company acquired a lot of satellite companies, all in banking business. All over the world. Then they figured their CEO was corrupt, got in problems with the law, got kicked out. While they were waiting for the new "real" CEO to step in, they let some "interim" CEO to take his place.

New new (interim) CEO didn't seem to have a clue about the business she was supposed to run, nor did she care. She knew her time was running out, and she figured she'd spend it traveling the world and partaking in fine dining in every corner of the world the company's tentacle could reach. But, to make it seem more plausible, she, sort of, created a policy of "experience exchange", which sent random troupes of select individuals from different branches of the company to "exchange experience" with another similarly randomly assembled troupe. Of course, the company picked the bill when it comes to lodging and dining.

Our inconsequential branch in Israel saw a pilgrimage of high-ranking banking managers from all over the world, but, mostly the wealthier parts of it. Some didn't even bother to show up in the office though, and proceeded straight to the banquet hall of the most expensive hotel on the Tel Aviv beach.

To be fair though, the interim CEO got the boot even before her time was supposed to end, but it was serendipitously close to the acquisition by the US company, and so she was let go as part of a "restructuring" and "optimization"... but it was a crazy year!