There’s an interesting article on up on CSOonline.com, that takes a peek at high-tech firms’ proxy statements filed with the SEC to get an idea of how much of the companies’ costs are eaten up by providing personal safety services to the CEO.
The article suggests that IBM’s Sam Palmisano flies only on the company jet, and is driven to and from work by IBM workers in an IBM-leased car, which is also at Palmisano’s disposal for social needs. All in all, the company spent $373,187 ensuring the personal safety of Palmisano and his family at work, home and play.
That figure is a drop in the ocean compared to the $1,708,763 spent on ensuring the safety of Oracle’s Larry Ellison, who spends that on home security and other services which Oracle declined to elaborate on. Most journalists though can see at first hand that Ellison protected by ‘minders’ wherever he goes – including press briefings.
And what of our beloved Cisco CEO John Chambers? The article says that Cisco – nor Intel – mentions the words “security” or “executive protection” in its proxy statements on executive compensation. What does that tell you?
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