UnitedHealthcare CEO Brian Thompson’s killing follows increased corporate security spending

Police say the killing was a targeted attack rather than a random act of violence. New York Police Commissioner Jessica Tisch called the shooting a “premeditated, pre-planned, targeted attack.” The shooter was caught on camera and last seen in Central Park. They have not been apprehended. The motive for the murder is unknown, but Thompson’s wife told NBC News that “there were some people who had threatened him.”

Thompson is executive vice president and CEO of UnitedHealthcare, a role he was named to in 2021, while Andrew Witty is CEO of the larger UnitedHealth Group. His killing comes as companies have grown increasingly concerned and are spending money on the safety of their top executives, and may confirm the worst fears of corporate America. More acutely, the targeting of a high-profile executive raises new questions about whether personal security, corporate air travel and trained defensive drivers should be expanded into roles beyond the chief executive.

“We don’t know the motivation. Certainly, if it’s a personal motivation, it changes the landscape a little bit,” says Glen Kucera, CEO of MSA Security, an impact threat protection company. Assets. “If it was motivated by the business they’re in, the healthcare industry or something that could be related, then it’s certainly a wake up call to a lot of CEOs and executives traveling around the country and the world.”

Increased investments in management security

Large companies appear to be increasingly aware of security risks for their top executives.

In a review of CEO perks between 2020 and 2023, consulting firm ISS-Corporate found that home security allowances for CEOs of S&P 500 companies rose from 12.6% in 2020 to 15.7% in 2023. And the prevalence of Personal and home security claims among S&P 500 companies have been steady increase since 2018, data from Esgauge shows. In 2018, only 13.2% of CEOs had these benefits, compared to 17.9% in 2024.

But the tendency to increase security is far less pronounced among healthcare companies. Among Russell 3000 healthcare companies, personal security costs have actually fallen from 0.8% in 2018 to 0.5% in 2024, Esgauge reports reveals. And the median value of security for CEOs overall in 2023 was about $50,000, according to WTWan insurance broker and risk management company.

However, some of the world’s most prominent leaders cost their companies millions a year in protection services. The richest man in the world Elon Musk, now travel with up to 20 security guards, the New York Times reported. Personal security for Alphabet CEO Sundar Pichai costs about $6.8 million a year, according to SEC filings. And Meta Platforms increased security spending for Mark Zuckerberg from $10 million to $14 million per year in February 2023, according to public documents.

“We believe that Mr. Zuckerberg’s role puts him in a unique position: he is synonymous with Meta and, as a result, negative sentiment regarding our company is directly associated with, and often transferred to, Mr. Zuckerberg,” the company wrote last. year in disclosures.

“When you’re talking about somebody who’s worth millions of dollars or billions of dollars and they’re in charge of an entire company, there’s a real possibility of kidnapping, there’s a real possibility of extortion, there’s a real possibility of attempted on their lives,” Bill Herzog, CEO of Arizona-based LionHeart Security Services, previously said Assets on management security.

However, most security focus has been at CEO and chairman level, and not among other named directors. At UnitedHealth Group, the company requires CEO Andrew Witty to fly on a corporate jet for all business travel, and encourages him to fly the jet for personal and family travel. Based on the company’s latest disclosures, Witty did not use the jet for personal travel in 2023. But the company did not disclose other personal security benefits for executives, including Thompson.

Cardinal Health spent $445,732 on jet travel, home security and monitoring and responsibilities for CEO Jason Hollar. The company did not disclose the same benefits for other top executives, according to the company’s 2024 power of attorney.

Other companies have taken a tougher stance. Meta in January and February 2021 approved new personal security services for the entire board, given the level of scrutiny at the company and the “charged atmosphere following the 2020 US election and the attack on the US capital,” the company told investors. It also revealed that it provides personal security for other leaders in response to specific threats.

“Nobody ever goes to work expecting this to happen to them, right? So that’s why it’s so important to be informed. Be aware of your surroundings. Have a good safety protocol in case this happens,” says Kucera. You have to be prepared.”

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