McDonald’s announced Monday that it is selling its business in Russia, saying the “humanitarian crisis caused by the war in Ukraine and the precipitous unpredictable operating environment have led McDonald’s to conclude that continued ownership of the business in Russia is no longer sustainable, nor is consistent with McDonald’s values.
The company became a symbol of glasnost in action more than 30 years ago when it opened its first restaurant in Moscow. But after temporarily closing more than 800 stores in Russia, he decided to leave the country entirely, according to a statement.
As part of the decision, the burger chain intends to sell its entire restaurant portfolio in Russia to a local buyer.
These measures include ensuring that McDonald’s Russia employees continue to be paid and employed in the future.
“We have a commitment to our global community and we must remain firm in our values. And our commitment to our values means we can no longer keep the Arches shining there,” McDonald’s Chairman and CEO Chris Kempczinski said in the statement.