*After more than 30 years serving the citizens of Russia, McDonald’s is exiting the market entirely, the company announced on Monday.
“We have a long history of establishing deep, local roots wherever the Arches shine,” McDonald’s CEO Chris Kempczinski said Monday. “We’re exceptionally proud of the 62,000 employees who work in our restaurants, along with the hundreds of Russian suppliers who support our business, and our local franchisees.”
Per a report from the Associated Press, McDonald’s is currently seeking to sell off “its entire portfolio” in Russia to a local buyer amid Russia’s ongoing war in Ukraine.
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“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 company said in a statement, CNN reports.
McDonald’s operations in Russia’s market began in January of 1990. Kempczinski said Monday the decision to exit the country was made “extremely difficult” due to the regional employees.
“Their dedication and loyalty to McDonald’s make today’s announcement extremely difficult,” Kempczinski said. “However, we have a commitment to our global community and must remain steadfast in our values.”
“And our commitment to our values means we can no longer keep the Arches shining there,” Kempczinski added. “[I]t is impossible to imagine the Golden Arches representing the same hope and promise that led us to enter the Russian market 32 years ago.”
Per Mass Live, “Until the war in Ukraine, the country had served millions of Russians daily in 850 communities across 11 time zones” the outlet writes.
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