Clorox CEO describes recovery from massive cyberattack – NBC New York

• In an interview Thursday with CNBC’s Jim Cramer, Clorox CEO Linda Rendle detailed how her company was able to recover after a cyber attack disrupted production and severely affected business.
• The company is behind a number of well-known consumer brands, including its namesake whitening products, Glad trash bags and the Burt’s Bees skin care line.
• According to Rendle, the company lost about a third of its distribution and market share after the attack.

In an interview Thursday with CNBC Jim Cramer, Clorox CEO Linda Rendle detailed how her company managed to recover from a cyber attack last year disrupted production and severely affected business.

“We entered this fiscal year with strong operational momentum, fully restored distribution, fully restored sourcing and most of our market share,” she said, adding that the company continued to make progress in the last quarter and recovered its market. stock losses. “This is because we invest in our brands through advertising and sales promotion and ensure we have a great innovation plan.”

The company — which is behind a number of well-known consumer brands, including its namesake whitening products, Glad trash bags and Burt’s Bees skin care line — POSTED a solid earnings report and high guidance on Thursday.

Rendle discussed the serious nature of the attack, saying the company has been “operating in manual mode for almost two months” and added that Clorox has lost about a third of its distribution and market share. Its cat litter brand, Fresh Step, was hit particularly hard as cat owners who switched brands due to shortages were reluctant to switch back. But Rendle said the cat litter business was on the rebound, regaining much of its lost market share, but admitted “we have a lot more work to do in this category”.

She also expressed gratitude to the retailers who worked with Clorox during that time and added that those partnerships are stronger in the wake of the attack. And while Rendle maintained that the company’s core business is their top priority, she left the door open for acquisitions in the future.

“There are opportunities for us there,” she said. “We’re starting to see the deal market heat up a little bit and we’re looking for the next growth opportunity that could either be, you know, focused on the core or take us beyond a category that we think has great trends.”

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