Several global brands such as McDonald's, Starbucks, Coca-Cola, PepsiCo and General Electric have announced that they are temporarily suspending their business in Russia in response to the attack on Ukraine. Chris Kempczinski, president and CEO of McDonald's, said in a letter to employees, "According to our principles, we cannot ignore the unnecessary suffering of individuals in Ukraine." The Chicago-based burger giant said it would temporarily close 850 stores. But Russia will continue to pay its 62,000 workers, who have "put their blood and sweat for our McDonald's brand."
Kempczinski said in the letter "The situation is very challenging for a global brand like ours and things need to be considered." "Starbucks" also said last Friday that it was donating the benefits from its 130 Russian stores to humanitarian relief efforts in Ukraine. At the same time, Coca-Cola has also announced the suspension of its business in Russia but did not provide much information in this regard.
Coke's partner, a Switzerland-based Coca-Cola Hellenic bottling company, owns 10 bottling plants in Russia, its largest market. Coke has a 21 per cent stake in the Coca-Cola Hellenic Bottling Company. PepsiCo and General Electric have also announced a partial closure of their trade in Russia. PepsiCo said it would stop selling its beverages in Russia. He will also suspend all kinds of cake capital investment and promotional activities there. However, the company said it would continue to produce milk, baby formula and baby food to continue to support its 20,000 Russian employees and 40,000 Russian agricultural workers.
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