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Wednesday, November 30, 2022
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McDonald’s, Starbucks and Coca-Cola leave Russia

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McDonald’s and Starbucks are shutting their restaurants and cafes in Russia, and Coca-Cola is suspending its operations there in response to Russia’s invasion of Ukraine. PepsiCo is also pulling some products from the country.

“McDonald’s has decided to temporarily close all our restaurants in Russia and pause all operations in the market,” CEO Chris Kempczinski said in a statement Tuesday.

“In Russia, we employ 62,000 people who have poured their heart and soul into our McDonald’s brand to serve their communities. We work with hundreds of local, Russian suppliers and partners who produce the food for our menu and support our brand,” Kempczinski said. “And we serve millions of Russian customers each day who count on McDonald’s. In the thirty-plus years that McDonald’s has operated in Russia, we’ve become an essential part of the 850 communities in which we operate.”

But, he added, “at the same time, our values mean we cannot ignore the needless human suffering unfolding in Ukraine.”

According to CNN, there were 847 locations of McDonald’s in Russia at the close of last year, according to an investor document.

Globally, most McDonald’s (MCD) locations are operated by franchise operators. But that’s not the case in Russia, where 84% of locations are operated by the company, according to the document. Russia’s restaurants, along with another 108 in Ukraine, all operated by McDonald’s, accounted for 9% of the company’s revenue in 2021, according to the document.

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SourceCNN
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