McDonald’s, Coca-Cola, PepsiCo and Starbucks are the latest American corporate titans to join the corporate exodus from Russia. In a letter to its partners on Tuesday, Starbucks CEO Kevin Johnson announced that the coffee giant would suspend all business in Russia. Johnson said the store’s licensed partner has agreed to pause operations at its 130 stores there.
… Coca-Cola announced: “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” the soft drink giant said in a brief statement.
… PepsiCo, which has been operating in Russia for more than 60 years, said that, “given the horrific events occurring in Ukraine,” it was suspending sales of Pepsi-Cola and its other global beverage brands there. The company said it will continue to sell milk, baby formula and baby food in the country.
… Meanwhile, McDonald’s is temporarily closing its 850 locations in Russia.