McDonald’s said it will sell its business in Russia, a little more than two months after it paused operations in the country due to its invasion of Ukraine.
Highlights
- McDonald’s has more than 800 restaurants and 62,000 employees in Russia.
- Franchisees operate only 15% of its Russian locations, while the company owns the rest.
- “If you can’t go to America, come to McDonald’s in Moscow,” was a McDonald’s ad slogan at the time in Moscow.
- “We have a commitment to our global community and must remain steadfast in our values,” McDonald’s CEO Chris Kempczinski said in Monday’s release.
- McDonald’s will start the process of “de-Arching” restaurants in Russia, meaning it would remove its name, logos, menus and branding from those locations, however, the company added.