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NewslettersCEO Daily

CEOs reflect on UnitedHealthcare backlash

Diane Brady
By
Diane Brady
Diane Brady
Executive Editorial Director
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Diane Brady
By
Diane Brady
Diane Brady
Executive Editorial Director
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December 11, 2024, 6:09 AM ET
Police cover evidence with paper cups where UnitedHealthcare CEO Brian Thompson, 50, was shot as he entered the New York Hilton after 6:45am on Dec. 4, 2024 in New York.
Police cover evidence with paper cups where UnitedHealthcare CEO Brian Thompson, 50, was shot as he entered the New York Hilton after 6:45am on Dec. 4, 2024 in New York. BRYAN R. SMITH—AFP via Getty Images
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Good morning.

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At the Fortune CEO Initiative dinner last night in San Francisco, one attendee brought extra security and spoke about how they now have someone protect their family at home. Earlier this week, a CEO told me that their child is having nightmares about them being killed.

The arrest of Luigi Mangione has done little to calm corporate leaders, who are struggling to understand the outpouring of support for the alleged killer of UnitedHealthcare CEO Brian Thompson. I’ve reached out to dozens of leaders to get their reaction and wanted to share some thoughts anonymously.

CEOs are used to being targets. “I don’t think you could be a CEO and not have threats against your life, if you’re going through bankruptcy or have to reduce labor,” noted one leader who’d been through both. What feels different to them this time is the lack of consequences for people issuing threats or cheering on a man’s murder on social media, not to mention the rhetoric coming from some politicians. “There are people in Congress who want to ‘stick it to corporate America.’ Well, corporate America is made up of hard-working Americans who do their best to reward the investors and many times those investors are pension funds.”

One CEO in the insurance sector said their challenge is keeping employees engaged: “How do you maintain a sense of purpose if you think your customers hate you?”

Noted another: “I have to wonder if the demonization of corporate America and the wealthy over the last four years planted a mind virus in the assassin’s mind.”

For that, some blame my own sector: the media. “Journalists look for heroes and villains; life is not that simple. Why is the killer getting 10 times as much press as the person who was killed?”

And some have taken this moment to reflect. “When I was growing up, CEOs didn’t make millions more than everyone else in the company. I think we have to reflect on why there’s so much anger and do something about it.”

More news below. 

Diane Brady
diane.brady@fortune.com
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GM stops funding robotaxi business
General Motors announced that it will stop giving money to its Cruise robotaxi business and pivot those resources toward developing self-driving technology for consumer vehicles. GM CEO Mary Barra blamed the “considerable time and expense required to scale a robotaxi business and an increasingly competitive market” for the decision. Fortune

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AROUND THE WATERCOOLER

Inflection’s CEO talks about rebuilding a startup, AI ‘in dialogue with the planet,’ and working with Trump by Kali Hays

DreamWorks founder Jeffrey Katzenberg says top Hollywood writers and showrunners are welcoming AI as ‘amazing,’ ‘inspiring,’ tools by Jason Del Rey

Luigi Mangione, accused UnitedHealthcare CEO shooter, came from a prominent real estate family and attended a $37,000-a-year private high school by Sasha Rogelberg

Citigroup CFO tells Goldman Sachs audience why his bank failed to meet regulatory requirements by Michael del Castillo

Hawk Tuah girl wanted to reward fans with a memecoin—crypto insiders turned it into a ‘one-day pump and dump’ by Leo Schwartz

Startup that went viral for ‘firing stressed employees’ claims it was stunt gone wrong—now they’re offering massages and spa sessions to staff by Christiaan Hetzner

This edition of CEO Daily was curated by Joey Abrams.

This is the web version of CEO Daily, a newsletter of must-read global insights from CEOs and industry leaders. Sign up to get it delivered free to your inbox.
About the Author
Diane Brady
By Diane BradyExecutive Editorial Director
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Diane Brady writes about the issues and leaders impacting the global business landscape. In addition to writing Fortune’s CEO Daily newsletter, she co-hosts the Leadership Next podcast, interviews newsmakers on stage at events worldwide and oversees the Fortune CEO Initiative. She previously worked at Forbes, McKinsey, Bloomberg Businessweek, the Wall Street Journal, and Maclean's. Her book Fraternity was named one of Amazon’s best books of 2012, and she also co-wrote Connecting the Dots with former Cisco CEO John Chambers.

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