Company Spotlight: Ferguson
A well-managed company overall, FERG has executed effectively on its digital strategy and invested sufficiently in security to manage the downside financial risks associated with its increased digitization. Strong execution on e-Commerce, its customer sales and maintenance and back-end operations has yielded tangible benefits to the business, helping management deliver on key KPIs including solid margins. This has contributed to FERG’s 4-Star cyber governance rating (out of 5) on a regional basis and 5-Star rating on a relative basis among European industrials.
Cyber Governance Alert: IWG
In the wake of COVID‑19 and the global lockdown, IWG has lost two-thirds of its market value in the span of two weeks. Though it was considered to be in a strong position to take advantage of WeWork’s financial governance failure heading into 2020, the Cyberhedge cyber-financial model alerted us to the potentially negative impact of its weak cyber governance prior to the current market troubles.
Cyber Governance Alert: Ryanair
Ryanair entered 2020 in decent financial shape relative to other low cost airlines. But in addition to the COVID‑19 disruption, poor cyber governance poses a risk to the company’s industry-leading operating margins, the key enabler for RYA’s aggressive pricing and thus market share growth post-COVID‑19.
Rapid Response: Marriott
Marriott customer data breach is a continuation of a concerning trend for the world’s largest hotel chain, which lacks the financial capacity to fix what is a structural problem, not a one-off incident.
Update to Cyber Governance Alert: Hertz
COVID-19-related travel disruptions are having a material impact on Hertz’s (HTZ’s) operations and financial position, as well as an increased likelihood of an operational problem related to its poor cyber governance.
Update to Cyber Governance Alert: Informa
COVID-19 disruptions to travel and global business operations are having a significant negative impact on Informa’s (INF’s) core customer events business and its financial position.
Update to Rapid Response: Travelex/Finablr
A cyber attack stopped Travelex’s operations. It never fully recovered due to lack of cash to respond. The COVID-19 pandemic will weaken many companies’ cash positions in the coming months, also resulting in an inability to adequately respond to cyber attacks.