Russia's invasion of Ukraine has alienated it from much of the rest of the world. The country has seen many companies halt operations in protest over its military actions. Apple stopped sales of all its products, OnlyFans blocked Russian accounts, TikTok and Netflix paused their services- the list goes on and on.
McDonald's was one of the companies which halted its businesses in Russia, and now the fast food giant has declared it will go a step further. McDonald's will be selling "its entire portfolio" in Russia, the company said Monday. The CEO of the chain, Chris Kempczinski, noted the decision was "extremely difficult."
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"We have a long history of establishing deep, local roots wherever the Arches shine," Kempczinski explained. "We're exceptionally proud of the 62,000 employees who work in our restaurants, along with the hundreds of Russian suppliers who support our business, and our local franchises."
But the war in Ukraine made McDonald's situation in Russia untenable. The war and its fallout created an "unpredictable operating environment," leading the company to seek a buyer for the totality of its portfolio.
"We have a commitment to our global community and must remain steadfast in our values,"said Kempczinski. "And our commitment to our values means that we can no longer keep the Arches shining there."
McDonald's will now begin "de-Arching" its Russian restaurants while still holding its trademarks in the nation.
Back in March, McDonald's was one of many companies in the food industry to temporarily close in Russia, including Starbucks and Coca-Cola. Time will tell if others will follow McDonald's lead and pursue a more permanent exit.
[via]
