McDonald’s to exit Russian market permanently after 30 years
Washington, May 16 (EFE).- McDonald’s said on Monday it was permanently exiting the Russian market and selling its business there after more than 30 years over the war in Ukraine.
“The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable,” the fast food iconic company said in a statement.
On March 8, McDonald’s had announced it would temporarily close its 850 restaurants in Russia over its invasion of Ukraine.
The company’s CEO, Chris Kempczinski, said the decision to permanently shut its business in Russia was an “extremely difficult” one and that he was proud of the over 60,000 workers employed in Russia.
“Our commitment to our values means that we can no longer keep the Arches shining there,” he said.
McDonald’s was one of the first Western fast food chains to open a branch in Moscow in 1990, becoming a symbol of the end of the Cold War.
Its closure in Russia is a strong symbolic gesture with an economic impact.
“This is a complicated issue that’s without precedent and with profound consequences,” Kempczinski added. EFE