shutterstock A wreath from the Wounded Warrior Project is seen at the Eternal Light Monument on Veterans Day. The organization fired its CEO and COO Thursday over questions about spending.

Top executives at the Wounded Warrior Project, one of the largest charities for helping rehabilitate injured military veterans, were fired Thursday after media reports raised questions about extravagant spending.

CEO Steven Nardizzi and COO Al Giordano were terminated at a meeting of the charity's board of directors.

The ousters follow a CBS report that raised questions about how the organization uses donor dollars. The report said the charity spent large sums on staff retreats and extravagant parties instead of on the veterans it was founded to help.

According to a New York Times investigation earlier this year, Wounded Warrier Project spent $124 million in 2014 -- accounting for 40 percent of its total donations -- on overhead. Other charities that help veterans spend far less on overhead. The Semper Fi Fund, for example, spent around 8 percent of its donations on management costs.