Tesla CEO Elon Musk recently revealed that there had been two attempts on his life in the past year, according to reports. Following the revelations, Tesla shareholders wrote to the company's board of directors, urging them to allocate more resources to ensuring the safety of Musk and others.
Last week's assassination attempt on former President Donald Trump has certainly heightened concerns about the safety of prominent figures. Given the current climate of angry rhetoric on everything from politics to abortion rights to climate change to ESG policies and diversity initiatives, should corporate boards be more concerned about safety than ever before?
“We are writing on behalf of a group of shareholder signatories who have concerns about Elon Musk, board members, Tesla employees, and the security measures currently in place at the company's campus. We believe protecting Tesla's human capital and physical assets is paramount to the company's continued success and innovation,” reads the letter to Tesla's board of directors from shareholder Alexandra Mertz.
For most companies, a review of security measures and the budget allocated to those efforts is at least worth considering. Tesla reportedly spent about $2.4 million on security services for Musk in 2023. While not every company needs to spend that level of money to protect its CEO, boards of directors should consider whether it's time to upgrade their CEO safety and security measures.
It is important to note that Tesla shareholders emphasized that the security of “Elon Musk, executives, Tesla employees, and company premises” is part of a comprehensive review of security and safety measures that will benefit the entire organization. Companies should embrace that approach. There are many questions to consider:
Do I need a personal security guard? Personal safety is a big concern for a controversial and outspoken CEO like Musk. Round-the-clock security is a matter of judgment, but any CEO may require personal security for international travel or public appearances depending on the nature of the work they do and the meetings they attend.
What safety measures are in place for protests and demonstrations? Companies may need to reassess their vulnerability to internal protests, whether they are initiated by external groups or by employees. While protests have rarely turned violent in recent years, are there plans in place in case violence breaks out over labor negotiations or the company's stance on highly controversial issues? This can now be a major safety and security issue for many organizations.
Does your company comply with industry-mandated employee safety regulations? Reviewing your safety and security measures provides you with an opportunity to determine if your safety procedures are working or if an upgrade is needed. Complying with occupational health and safety legal requirements can increase employee productivity and help you avoid fines and employee lawsuits.
