In this episode of Enquire, Clara Melia speaks with Brian Lantz, VP of IR and Communications at Ferguson and previously Fortune Brands, about navigating major structural transformations including IPOs, spin-offs, and UK-to-US listing moves. Brian highlights why IR must be involved from day one in an IPO process to shape the equity story, details how management teams must learn to wear "two hats," and breaks down the step-by-step playbook for managing corporate transitions across international capital markets.
In This Episode
Why appointing an IR lead weeks before an IPO or spin-off setup harms market success.
How to help C-suite leadership wear "two hats", balancing operational management with equity storytelling.
Strategies for establishing guidance and protecting management credibility during an IPO or carve-out.
Key differences between UK and US sell-side analysts, investor patience, and attention spans.
The regulatory contrasts between UK Market Abuse Regulation and US quarterly reporting rhythms.
Practical steps from Ferguson's successful primary listing move from London to the NYSE.
Brian’s six-step playbook for executing smooth corporate listing moves and spin-offs.
How to practice "brutal prioritisation" to avoid becoming a "busy fool" during high-demand investor cycles.
Quotes
On the Role of IR in IPOs and Carve-Outs: "You should have somebody that's used to talking to investors, that's really ingrained in that sort of work, to help you formulate that holistic message internally from the very beginning. And if you haven't done that, then you don't value IR..."
On Management Credibility During IPOs: "...investors buy the business model and the management team... And that management team credibility is very hard to win and very easy to lose, right? So you have to step very carefully into that."
On UK vs. US Investor Attention Spans: "In the US, what you find is there's so many investment options, things are moving so quick… So you got to hook these people in a couple minutes..."
On Prioritisation and Execution: "You can be a very busy fool in IR... brutal prioritisation of your targeting and execution to the point you're uncomfortable."
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