Corporate leaders likely to boost security after United Healthcare exec gunned down
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The scene in Manhattan where Brian Thompson was fatally shot. Photo: Yuki Iwamura/Bloomberg via Getty Images
Firms that provide security to executives are bracing for an influx of calls after the head of UnitedHealthcare, Brian Thompson, was shot and killed yesterday in what appeared to be a targeted attack in midtown Manhattan.
Why it matters: It's not uncommon for high-profile executives to hire security guards. Thompson, however, was a relative unknown and had no protection.
- "I'm just shocked the guy didn't have a protective detail," says Michael Julian, CEO of MPS Security & Protection.
- Thompson's wife told NBC News that he had received threats, but it was unclear if they were related to the incident.
- No executives at UnitedHealth received any personal security or protection benefits, per Bloomberg.
By the numbers: Nearly 28% of S&P 500 firms disclosed spending on security for at least one top executive from 2021 to 2023, per Equilar data cited by Bloomberg.
Zoom in: Other experts said it wasn't that surprising Thompson was unguarded. Not all companies want to pay for protection, particularly if the executive isn't a widely recognized person.
- Famous billionaire CEO types, like Mark Zuckerberg and Elon Musk, pay millions for security coverage — or, rather, their companies do.
- Top execs are walking around Manhattan all day long unprotected, Glen Kucera, president of Enhanced Protection Services at Allied Universal, tells Axios.
- After an incident like this, he typically gets flooded with requests (and said the calls had already started coming in).
- If a year goes by without incident, companies will typically call off the guards.
How it works: Security can mean 24/7 protection from an armed detail that extends to family members, or a more targeted approach where an executive is accompanied on travel to more dangerous locations or high-profile events.
- About 95% of what these firms do is provide "visual deterrence," says Kucera. Just the sight of armed bodyguards near an executive is enough to scare away potential attackers.
- Although sometimes it doesn't work. When Bill Gates was hit in the face with a pie back in 1998, he was accompanied by security guards.
Threat level: Threats against corporate executives are especially common with consumer-facing companies in areas like travel, transportation and retail, Chris Pierson, CEO of security firm BlackCloak, tells Axios.
- These are areas where people have deep personal connections and grievances. Certainly, health care is in that club. The sector has grown increasingly troubled by violent incidents in recent years — though these episodes typically occur at hospitals or other medical settings.
- Threats are also common in controversial sectors. For example, the CEO of a weapons manufacturer hired Julian's firm during the height of the Afghanistan war.
- "The CEO, who gets the coffee every morning at Starbucks at the exact same time, started seeing the same exact vehicle at the same time, and then he followed her, and she freaked," he says. They covered her 24/7 after that, driving the CEO everywhere she went.
Adding to the challenge of protecting corporate executives is that publicly traded companies are required to disclose certain details about their public events, including investor conferences where leaders will make appearances, Pierson says.
The bottom line: Even the best security isn't foolproof. If someone is intent on causing harm, it's not always possible to stop them.
