Increased Security for Top Executives
U.S. drugmakers Johnson & Johnson and Eli Lilly have increased spending on security for their top executives in 2024 due to increased threats, following the murder of a UnitedHealth insurance executive.
Brian Thompson, the former CEO of UnitedHealth Group’s insurance unit, was shot dead in December 2023, prompting companies to reassess their security measures.
Specific Measures Taken
Johnson & Johnson now provides executives with an armed driver and secure transportation, as stated in their annual proxy statement. The security spending for CEO Joaquin Duato increased to nearly $103,000.
Eli Lilly introduced security services for CEO David Ricks for the first time, spending $73,630 in 2024, and disclosed these expenses in their proxy.
Industry-Wide Changes
Following the incident, health insurers removed executive photos from corporate websites, and security was heightened at major industry meetings.
Historically, companies in the sector have compensated for private jet use and limited security-related expenses, but recent events have shifted this trend.
