Some tech boardrooms go to expensive lengths to protect the top brass, authorizing company funds for cars, drivers, bodyguards, and home security systems to keep the CEO safe.
The cost is high, but proponents view safeguarding the CEO as a necessary business expense. The CEO is among a company’s most valuable assets, and protecting that asset can minimize corporate risk and align with shareholder interests.
Network World analyzed pay packages at 49 tech companies and found seven that itemized security-related perks received by the CEO. One of the most expensive programs is at Oracle, which paid $1.5 million to secure CEO Larry Ellison’s primary residence.
“We require these security measures for Oracle’s benefit because of Mr. Ellison’s importance to Oracle, and we believe these security costs and expenses are appropriate and necessary,” Oracle wrote in its proxy statement. Ellison paid for the procurement and installation of the security equipment, Protection, and he’s responsible for maintaining the system. Oracle pays for the annual costs of security personnel.