CURRYING FLAVOR Over the last decade or so McCormick s extraordinary global expansion has had flourishing effects across the organization resulting in sharp upticks in revenue burgeoning market dom inance and a big brand boost So how did the Fortune 1000 firm manage the risk that accompanied all of that sudden growth No one in the business of managing risk would argue that when success comes rapidly within a compressed time frame it could result in significant spikes in risk exposure Expanding a global footprint brings with it new hazards Are they foreseeable Is that new acquisition vulnerable to flood Additionally when a company is uncovering new revenue streams it s also con solidating that is squeezing suboptimal facilities down and relocating critical operations to cut cost and accommodate the new order That consolidation changes the value and significance of various locations and opens up new vulnerabilities and exposure to business interruption When revenue is flowing profits are growing and there s all this great economic buzz going on it s easy to overlook the risk and uncer tainty that growth brings Fortunately McCormick the US 4 2 billion in annual sales flavor giant that is fast solidifying its place at the top of its industry understood the consequences of its growth and took action Thanks to productive partnerships an embrace of metrics c suite buy in and smart risk improvement investments they were able to swing the risk pendulum back to an acceptable level McCormick and Compa ny s seasoned leadership inmanaging risk has create d a zesty recipe for success ISSUE 2 2015 REASON 29

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