When the CEO of United Health Group’s insurance arm was shot dead on a Manhattan street Wednesday morning, the victim of what police believe to be a targeted assassination, it set off alarm bells throughout the CEO community nationwide—if they hadn’t been going off already.

Brian Thompson, 50, was shot in the chest and leg outside of the Hilton Hotel on 6th Avenue ahead of a scheduled appearance and UHC’s annual investor conference and died soon after. According to the police, the shooter fled the scene on a bicycle. A manhunt is underway throughout the New York Metropolitan area.

And while the motive for the killing remains uncertain, police said they believe Thompson was deliberately targeted. Appearing at a press conference on Wednesday, New York’s Police Commissioner Jessica Tisch said the murder “does not appear to be a random act of violence.” Thompson’s wife, Paulette, told NBC News that her husband had been the target of threats in the past.

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