Industry Update
External Article10 December 2018

Marriott CFO Calls $1 Billion Estimate on Cyber Breach Premature

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It's too soon for Marriott International Inc. to estimate the cost of the massive cyber breach that the company disclosed last week, and other companies that have suffered big attacks are imperfect proxies, said Chief Financial Officer Leeny Oberg at an investor conference today.

"Any situation that you've seen from other companies, they are all highly individual, and no one should make an assumption about, if it was this way for one company, it will be that way for another," Oberg said at the Barclays Gaming and Lodging Conference, marking the first public comments by a top executive since the company disclosed the hack. "You do expect there will be material costs associated with this."

Read the full article at Bloomberg