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Guarding

Concern for business leaders’ safety

by Mark Rowe

Concern among chiefs of security about the safety of business leaders has risen sharply. That’s according to a World Security Report, commissioned by Allied Universal, the United States-based security and facility services contractor, and its international arm, G4S. The global report surveyed 2,352 chief security officers (CSOs) or those in equivalent roles, anonymously online, who were working for medium and large, global companies, in 31 countries, with total annual revenue exceeding $25 trillion. The study includes the perspectives of 200 global institutional investors managing over $1 trillion in assets. Near all of the institutional investors asked, 97 per cent, deemed it important for companies to invest in security for their executives; and seven in ten said that the contributions of senior executives represent 30pc or more of the value of the companies they invest in.

Misinformation and disinformation (incorrect or purposely false) is pervasive and can put senior executives at greater risk of harm, the study suggested. Three quarters of CSOs (75pc) say their companies were targeted by such a campaign last year. And 42pc say mis/disinformation motivates at least half of threat actors targeting their businesses. Activist groups, who often deploy this, increasingly pose a physical security risk to facilities and executives, according to 85pc of investors.

Budgets

Physical security budgets will increase in the next 12 months, most, 66 per cent of security chiefs say. To mitigate the threat of violence to company executives, near half, 49pc of security chiefs say they have enhanced their security procedures (such as enhanced background checks, on site firearms or explosives screening) while 45pc say they are carrying out risk assessments for leaders (pre-event assessments, travel risk management, and TCSM – technical surveillance counter-measures). Some 44pc of security cheifs are monitoring online threats (whether social media, deep web or dark web) and 40pc are offering training and preparedness for leaders (such as in self-defence, or situational awareness).

What they say

Steve Jones, Allied Universal global chairman and CEO said: “In a world of increasing polarisation, and when mistruths and untruths can be shared instantaneously, companies and their senior leaders face heightened risks. As a CEO, this impacts me personally and professionally. Now more than ever, personal safety is on my mind and the minds of my loved ones. Professionally, I’ve seen an increase in our customers’ concern for the safety of their employees.”
Impact
The report also finds the financial impact of security incidents is substantial.  A quarter of security chiefs (26pc) reported revenue losses after an incident last year, with the average company losing at least $9 million. In total the companies surveyed lost close to $1 trillion in revenue due to physical security incidents. This is consistent with the 2023 findings. Investors meanwhile say a physical security incident could impact the value of a publicly listed company by up to 32pc; that’s up 3pc compared to 2023.
Ashley Almanza, executive chairman of G4S, said: “The ramifications of a security incident can be considerable and go beyond taking a short-term financial hit. Investors say the impact can be much more damaging and long-lasting, particularly when reputation and shareholder value is concerned. Given how high the stakes are, business leaders are increasingly recognizing that robust physical security is a corporate value driver and should be central to their corporate governance and risk management strategy.”
More on corporate threat intelligence in the September edition of Professional Security Magazine.

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