McDonald’s, Starbucks, Coca-Cola, PepsiCo Inc. and General Electric have all announced they were temporarily suspending their business in Russia, offering a united reprimand of the war on Ukraine by companies that define the United States for many of the world.
Pepsi and McDonald’s were pioneering companies whose work with the Soviet Union and the post-The Soviet Russian state of decades ago was seen as improving international reports.
All four companies have major operations in Russia.
“Our values mean that we cannot ignore the unnecessary human suffering that takes place in Ukraine,” said the President and Head of direction of McDonald’s, Chris Kempczinski. in an open letter to employees on Tuesday.
The Chicago-based burger giant said it will temporarily close 850 stores but continue to pay its 62,000 employees in Russia”who have invested their hearts and souls in our McDonald’s brand. »
Kempczinski said it was impossible to know when the business can reopen stores.
“The situation is extraordinarily difficult for a global Mark like ours, and there are many considerations,” Kempczinski wrote. in the letter. McDonald’s is working with hundreds of Russian suppliers, for example, and serves millions of customers every day.
Last Friday, Starbucks said it was donating profits from its 130 Russian stores stores – owned and operated by Kuwait-based franchisee Alshaya Group – to humanitarian relief efforts in Ukraine.
Corn on Tuesday, the company changed course and said it would temporarily close these stores. Alshaya Group will continue to pay Starbucks’ 2,000 Russian employees, chairman and CEO says direction of Starbucks, Kevin Johnson. in an open letter to employees.
“Thanks to this dynamic situation, we will continue to do decisions which are true to our mission and values and communicate with transparency,” Johnson wrote.
Coca-Cola Co. announced he suspended son business in Russia, but he provided few details. Coke’s partner, Switzerland-based Coca-Cola Hellenic Bottling Co., has 10 bottling plants in Russia, which is son more grand market. Coke holds a 21% stake in Coca-Cola Hellenic Bottling Co.
PepsiCo and General Electric announced partial stops of their russian business.
Pepsi, based in Purchase, New York, said it would suspend sales of beverages in Russia. It will be also suspend all capital investment and promotional activity.
But the company said it would continue to produce milk, baby formula and baby food, in part to continue supporting its 20,000 Russian employees and 40,000 Russian agricultural workers who be part of of its supply chain.
“Now more that we ever have to stay true with a humanitarian aspect of our business”said PepsiCo CEO Ramon Laguarta. in email to employees.
General Electric also noted in a twitter post that it was partially suspending its activities in Russia. GE said two exceptions would be essential medical equipment and support for existing power services in Russia.
McDonald’s is among those taking the biggest financial hit. Unlike Starbucks and others fast food companies like KFC and Pizza Hut, including Russian locations owned by franchisees, McDonald’s owns 84% of son Russian stores. McDonald’s has also temporarily closed 108 restaurants he owns in Ukraine and continues to pay these employees.
In a recent regulatory filing, McDonald’s said its restaurants in Russia and Ukraine contribute 9% of son annual revenue, approximately $2 billion last year.
Yum brands, the parent business of KFC and Pizza Hut announced Tuesday evening that they plan to temporarily close 70 company-owned KFC restaurants. in Russia. The company said it was also in talks with a franchisee closes all 50 Pizza Hut restaurants in Russia.
This has announced Monday that he donated everything of profits from its 1,050 restaurants in Russia to humanitarian efforts. He has also suspended new restaurant development in the country.
Burger King said it was redirecting profits from its 800 Russians stores to relief efforts and donating 2 millions of dollars in food vouchers for Ukrainian refugees.
McDonald’s announced on Tuesday that it has donated more more than 5 millions dollars to his employee relief funds and relief efforts. He has also parked a Ronald McDonald House Charity mobile Polish border medical care unit with Ukraine and another mobile the care unit is on its way to the border in Latvia, the company said. PepsiCo said it was donating food, refrigerators and 4 millions dollars to humanitarian organizations.
Some of companies have long history of operating in Russia. PepsiCo entered Russia market in in the early 1960s, at the height of the Cold War and helped create common land between the United States and the Soviet Union.
Later, McDonald’s was one of the first we fast-food companies to open a store in Russia, a sign that the cold war had thawed. On January 31, 1990, thousands of Russians lined up up before dawn to try burgers – lots for the first time – at first McDonald’s in Moscow. At the end of the day, 30,000 meals had been rung up on 27 cash registers, an opening day record for the company.
But from Ukraine invasion last months, many companies ceased their activities in Russia in demonstration. Among them is consumer goods conglomerate Unilever, which on On Tuesday, he announced the suspension of all imports and exports of its products in and out of Russia, and that it will no longer invest capital in the country.
In one more limited moveAmazon said the company’s cloud computing networkAmazon Web Services on Tuesday, will stop allowing new sign-UPS in Russia and Belarus.
Universal Music also said he was suspending all operations in Russia, and online bumble dating service will remove son apps from stores in Russia and Belarus.
Earlier, Shell had stopped buying oil from Russia and said it would cut ties with the country entirely while the United States intervened. up son campaign punish Moscow by banning Russian oil and energy imports.
Moscow called the attack a “special military operation” aimed not at occupying territory but at destroying Ukraine military capacities.
The western one moves economically isolate Russia for attacker son neighbor have hit global raw materials and energy markets soaring prices and threatening to derail the nascent market recovery of the COVID-19 pandemic.
Britain has also said it will ban imports of Russian oil but only by staggering them gradually out during 2022 at give companies have time to find alternative sources of to supply.
Shell and its rivals BP and ExxonMobil have all announced plans sell assets in Russia and leave the country, leaving France’s TotalEnergies (TTEF.PA) relatively isolated in suspended on to its investments there.
The pressure was mounting on companies that have remained in the country. hashtags to boycott companies like McDonald’s, Coca-Cola and PepsiCo quickly emerged on social media.
Last week, New York State Comptroller Thomas DiNapoli, an administrator of the states pension fund, which is an investor in McDonald’s – has sent letters to McDonald’s, PepsiCo and eight other companies urging them to consider suspending operations in Russia.
“Companies that make business in Russia need seriously wonder if it’s worth the risk. As investors, we want assurance that our assets are not in the evil way”, said DiNapoli on Tuesday in A declaration. “I commend companies that take the right steps and suspend their activities in Russia”, he added.
In his letter, Kempczinski cited influential figures former The President and Chief direction of McDonald’s, Fred Turner, whose mantra was: “Do the right thing”.
“There are countless examples over years of McDonald’s Corp. living up to Fred’s simple ideal. Today is one of those days,” Kempczinski said.
McDonald’s, Starbucks, Coca-Cola, PepsiCo Inc. and General Electric have all announced they were temporarily suspending their business in Russia, offering a united reprimand of the war on Ukraine by companies that define the United States for many of the world.
Pepsi and McDonald’s were pioneering companies whose work with the Soviet Union and the post-The Soviet Russian state of decades ago was seen as improving international reports.
All four companies have major operations in Russia.
“Our values mean that we cannot ignore the unnecessary human suffering that takes place in Ukraine,” said the President and Head of direction of McDonald’s, Chris Kempczinski. in an open letter to employees on Tuesday.
The Chicago-based burger giant said it will temporarily close 850 stores but continue to pay its 62,000 employees in Russia”who have invested their hearts and souls in our McDonald’s brand. »
Kempczinski said it was impossible to know when the business can reopen stores.
“The situation is extraordinarily difficult for a global Mark like ours, and there are many considerations,” Kempczinski wrote. in the letter. McDonald’s is working with hundreds of Russian suppliers, for example, and serves millions of customers every day.
Last Friday, Starbucks said it was donating profits from its 130 Russian stores stores – owned and operated by Kuwait-based franchisee Alshaya Group – to humanitarian relief efforts in Ukraine.
Corn on Tuesday, the company changed course and said it would temporarily close these stores. Alshaya Group will continue to pay Starbucks’ 2,000 Russian employees, chairman and CEO says direction of Starbucks, Kevin Johnson. in an open letter to employees.
“Thanks to this dynamic situation, we will continue to do decisions which are true to our mission and values and communicate with transparency,” Johnson wrote.
Coca-Cola Co. announced he suspended son business in Russia, but he provided few details. Coke’s partner, Switzerland-based Coca-Cola Hellenic Bottling Co., has 10 bottling plants in Russia, which is son more grand market. Coke holds a 21% stake in Coca-Cola Hellenic Bottling Co.
PepsiCo and General Electric announced partial stops of their russian business.
Pepsi, based in Purchase, New York, said it would suspend sales of beverages in Russia. It will be also suspend all capital investment and promotional activity.
But the company said it would continue to produce milk, baby formula and baby food, in part to continue supporting its 20,000 Russian employees and 40,000 Russian agricultural workers who be part of of its supply chain.
“Now more that we ever have to stay true with a humanitarian aspect of our business”said PepsiCo CEO Ramon Laguarta. in email to employees.
General Electric also noted in a twitter post that it was partially suspending its activities in Russia. GE said two exceptions would be essential medical equipment and support for existing power services in Russia.
McDonald’s is among those taking the biggest financial hit. Unlike Starbucks and others fast food companies like KFC and Pizza Hut, including Russian locations owned by franchisees, McDonald’s owns 84% of son Russian stores. McDonald’s has also temporarily closed 108 restaurants he owns in Ukraine and continues to pay these employees.
In a recent regulatory filing, McDonald’s said its restaurants in Russia and Ukraine contribute 9% of son annual revenue, approximately $2 billion last year.
Yum brands, the parent business of KFC and Pizza Hut announced Tuesday evening that they plan to temporarily close 70 company-owned KFC restaurants. in Russia. The company said it was also in talks with a franchisee closes all 50 Pizza Hut restaurants in Russia.
This has announced Monday that he donated everything of profits from its 1,050 restaurants in Russia to humanitarian efforts. He has also suspended new restaurant development in the country.
Burger King said it was redirecting profits from its 800 Russians stores to relief efforts and donating 2 millions of dollars in food vouchers for Ukrainian refugees.
McDonald’s announced on Tuesday that it has donated more more than 5 millions dollars to his employee relief funds and relief efforts. He has also parked a Ronald McDonald House Charity mobile Polish border medical care unit with Ukraine and another mobile the care unit is on its way to the border in Latvia, the company said. PepsiCo said it was donating food, refrigerators and 4 millions dollars to humanitarian organizations.
Some of companies have long history of operating in Russia. PepsiCo entered Russia market in in the early 1960s, at the height of the Cold War and helped create common land between the United States and the Soviet Union.
Later, McDonald’s was one of the first we fast-food companies to open a store in Russia, a sign that the cold war had thawed. On January 31, 1990, thousands of Russians lined up up before dawn to try burgers – lots for the first time – at first McDonald’s in Moscow. At the end of the day, 30,000 meals had been rung up on 27 cash registers, an opening day record for the company.
But from Ukraine invasion last months, many companies ceased their activities in Russia in demonstration. Among them is consumer goods conglomerate Unilever, which on On Tuesday, he announced the suspension of all imports and exports of its products in and out of Russia, and that it will no longer invest capital in the country.
In one more limited moveAmazon said the company’s cloud computing networkAmazon Web Services on Tuesday, will stop allowing new sign-UPS in Russia and Belarus.
Universal Music also said he was suspending all operations in Russia, and online bumble dating service will remove son apps from stores in Russia and Belarus.
Earlier, Shell had stopped buying oil from Russia and said it would cut ties with the country entirely while the United States intervened. up son campaign punish Moscow by banning Russian oil and energy imports.
Moscow called the attack a “special military operation” aimed not at occupying territory but at destroying Ukraine military capacities.
The western one moves economically isolate Russia for attacker son neighbor have hit global raw materials and energy markets soaring prices and threatening to derail the nascent market recovery of the COVID-19 pandemic.
Britain has also said it will ban imports of Russian oil but only by staggering them gradually out during 2022 at give companies have time to find alternative sources of to supply.
Shell and its rivals BP and ExxonMobil have all announced plans sell assets in Russia and leave the country, leaving France’s TotalEnergies (TTEF.PA) relatively isolated in suspended on to its investments there.
The pressure was mounting on companies that have remained in the country. hashtags to boycott companies like McDonald’s, Coca-Cola and PepsiCo quickly emerged on social media.
Last week, New York State Comptroller Thomas DiNapoli, an administrator of the states pension fund, which is an investor in McDonald’s – has sent letters to McDonald’s, PepsiCo and eight other companies urging them to consider suspending operations in Russia.
“Companies that make business in Russia need seriously wonder if it’s worth the risk. As investors, we want assurance that our assets are not in the evil way”, said DiNapoli on Tuesday in A declaration. “I commend companies that take the right steps and suspend their activities in Russia”, he added.
In his letter, Kempczinski cited influential figures former The President and Chief direction of McDonald’s, Fred Turner, whose mantra was: “Do the right thing”.
“There are countless examples over years of McDonald’s Corp. living up to Fred’s simple ideal. Today is one of those days,” Kempczinski said.