Which companies are still operating in Russia? | Fortune It is regularly compiled from multiple sources to the best of our ability and may or may not contain errors. They must find a partner not sanctioned by the West. Former Atlanta Mayor Andrew Young, a civil rights leader alongside Martin Luther King and former ambassador to the United Nations, told CEOs at an early Sonnenfeld summit that the business community held more influence over doing the right thing than clergymen or activists. America is changing fast! companies Data is a real-time snapshot *Data is delayed at least 15 minutes. Among the companies that have come under fire for staying put, Mr Sonnenfeld said that McDonalds in particular was the screaming anomaly thats bewildering to all its peers because, while some might argue that they are at the mercy of franchise deals, the fast food chain controls more than 85 per cent of its restaurants in Russia. Estee Lauder finally announced on Monday that it was closing all company-owned stores in Russia and was halting shipments of its products to the country in response to criticism. National Donut Day deals from Dunkin, Krispy Kreme and other doughnut shops. The spreadsheet, compiled by Jeffrey Sonnenfeld and his research team, has become a naughty-or-nice list of sorts. Yale professor creates list of businesses still operating in John Durhams final report blasts the FBI for using the so-called Steele dossier, a compilation of unconfirmed claims about Donald Trump and Russia, . A Division of NBCUniversal. Companies are finding it's not so simple to leave Russia. Some companies in Russia remain in that category four weeks after the start of the attack. All rights reserved. These U.S. companies are still doing business in Russia Inflation has soared to almost 30%. "They were afraid of the 'tall poppy syndrome,' as the Australians call it, and they didn't want to suffer reprisals," Sonnenfeld said.Spokespeople for Coca-Cola and PepsiCo had no immediate comment on Sonnenfeld's remarks. Ukraine live briefing: Biden hails unity of energized NATO; 3 killed in R Pentagon discloses its paying for Elon Musks Starlink internet in Ukraine, NATO nations look past Ukraine offensive to long-term deterrence pacts, Border towns in western Russia report heavy shelling and rocket fire, Biden shows growing appetite to cross Putins red lines. Even among those on the list of Companies That Have Curtailed Russian Operations, some are taking a stronger position against the invasion than others, Sonnenfeld said. McDonalds, Coca-Cola and Starbucks soon pulled out. A Yale professors list of companies staying in Russia has put the business world on notice. At the same time, our values mean we cannot ignore the needless human suffering unfolding in Ukraine.". The Russian state, that is. Business Disney has revealed its new 2023 Pride Collection of merchandise to help celebrate Pride Month! We believe that companies that continue to operate in Russia and invest in Russian assets face significant and growing legal, compliance, operational, human rights and personnel and reputational risks, said DiNapoli. A Yale professors list of companies staying in Russia has put the Courtesy of Jeffrey Sonnenfeld. 08, 2022. In a March 16 article for Fortune, Sonnenfeld acknowledged that the initial naughty and nice list smoothed over some of the complexities related to these companies exits from Russia.. On February 24, 2022, it started a full-scale military invasion to the Ukrainian territory. Yale CELI List of Companies Leaving and Staying in Russia, Yale Chief Executive Leadership Institute. The list, updated hourly by his research team, has grown to more than 330 as of Friday. The list remains fluid, but U.S. publicly-traded companies that have failed to cease business in Russia include cosmetics Indiscriminately terminating service would do little to harm the Russian government, but would both limit access to information outside the country, and make significantly more vulnerable those who have used us to shield themselves as they have criticized the government, Prince wrote. Executives from three of the leading A.I. Bose does not sell directly to consumers in Russia we do not operate retail stores or sell or ship products through any company operated website. I never want to work again. Jeff Sonnenfeld and team created a list of "Companies That Remain in Russia With Significant Exposure. amidst the Ukrainian conflict. Three major U.S. companies that were working with Russia as usual McDonalds, Starbucks and Coca-Cola all suspended business Tuesday amid , the company said it has approximately 1,000 KFC restaurants and 50 Pizza Hut locations in Russia, nearly all of which are operated by independent owners under license or franchise agreements. Founder of the Chief Executive Leadership Institute, Sonnenfeld has spent four decades pushing CEOs to act to benefit society, not just shareholders, on social issues ranging from gun control to voting rights. Mr Sonnenfeld told The Washington Post that such companies are misguided if they think they are helping their Russian employees by staying put. Yale University professor Jeffrey Sonnenfeld and his research team have compiled a list of companies still doing business in Russia that includes Coca-Cola, Ukraine live briefing: Kremlin blames Kyiv for drone strikes on Moscow; U.N Drones hit Moscow, shocking Russian capital after new missile attack on Kyi Russians snitch on Russians who oppose war with Soviet-style denunciations, The American military veterans whove fallen in Ukraine. companies See: Koch Industries breaks silence on Russia operations and says it will continue to operate its two glass factories there, The executive acknowledged the horrific and abhorrent aggression against Ukraine, which he called an affront to humanity.. 3. That was the late 1970s, long before a powerful group of CEOs known as the Business Roundtable in 2019 distanced themselves from the idea that companies must maximize profits for shareholders above all else. by Shirin Ali | March 8, 2022 | Mar. Updated By:Jeffrey Sonnenfeld and Yale Research Team: Meena Ambati, Wiktor Babinski, Will Berkley, Ahaan Bhansali, Yash Bhansali, Forrest Michael Bomann, Michal Boron, Tristan Brigham, Jesse Bross, Adnan Bseisu, Katie Burke, Lauren Cho, Cara Chong, Adriana Coleska, Maia Cook, Cam Coyle, Khulan Erdenedalai, Paola Flores Sanchez, Jake Seymour Garza, Kevin Grold, Tamara Gruslova, Hunter Harmon, Patrik Haverinen, Georgia Hirsty, Warner Hoshide, Daniel Jensen, Aditya Kabra, Nolan Kaputa, Mateusz Kasprowicz, Jay Kauffin, Sahana Kaur, Yuto Kida, Ava Leipzig, Victoria Liando, Cate Littlefield, Kasey Maguire, Marek Malinowski, Maksimas Milta, Rmi Mot-Buonaparte, Atin Narain, Christophe Navarre, Marina Negroponte, Camillo Padulli, Jeremy Perkins, Katya Pinchuk, Yevheniia Podurets, Aranyo Ray, Dorothea Robertson, Nick Shcherban, Franek Sokolowski, Andrew Sonneborn, David Sun, Christopher Sylvester, Steven Tian, Maria Trybus, Umid Usmanov, Ryan Vakil, Daria Valska, Bryson Wiese, Chris Wright, Michal Wyrebkowski, Nicole Xing, Lara Yellin, Steven Zaslavsky, Nick Zeffiro, and Grace Zhang. Beware the June Swoon for stocks as AI-ebullience leaves tech overbought. The Yale professor who is monitoring companies that are still doing business in Russia following its unprovoked invasion of neighboring Ukraine has upped Russia PepsiCo soon followed suit with its own announcement that it is suspending Russian sales of Pepsi-Cola, 7UP and Mirinda brand sodas, while continuing to sell some essential products. We also are working to ensure continued supply of our medicines in Ukraine.. California residents do not sell my data request. A rare look inside the notorious Russian jail holding an American journalis U.S. to Turkey: Its time for Sweden to join NATO. "The ruble has already fallen almost 80%. Copyright 2023 Nexstar Media Inc. All rights reserved. Companies The cosmetics company Este Lauder had been on the list of those maintaining operations in Russia. (Video: The Washington Post, Photo: Demetrius Freeman/The Washington Post), McDonalds, Starbucks, Coca-Cola and PepsiCo halted their operations in Russia on March 8, amid mounting public pressure over the Kremlins invasion of Ukraine. Three major U.S. companies that were working with Russia as usual last week McDonalds, Starbucks and Coca-Cola all suspended business amid mounting pressure. Please click this link to see a simplified version of our list on the Yale website. America is changing faster than ever! It currently lists 290 companies that have said they will exit Russia, or suspend or curtail business there. Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, Major companies including McDonalds, PepsiCo and Coca-Cola are coming under fire as they continue to refuse to take a stand against Russias invasion of Ukraine, Find your bookmarks in your Independent Premium section, under my profile, McDonalds is coming under mounting pressure over its refusal to pull operations out of Russia. They compiled a list of Quicksilver The brand has online sales which are still running in the country, according to Yale researchers. For some brands there isnt a clear and immediate path to cut off business in Russia, like for Yum! The spreadsheet, compiled by Yale professor Jeffrey Sonnenfeld and his research team, has become a naughty-or-nice list of sorts, with CEOs trying their best to avoid being placed on the roster of Companies That Remain in Russia With Significant Exposure., Sonnenfeld, who founded the nonprofit Chief Executive Leadership Institute, said he has fielded calls from CEOs asking "why we didn't have them on the right list, and what they needed to do to either clarify or actually take a more strong stance.". This material may not be published, broadcast, rewritten, or redistributed. Some companies cite humanitarian concerns in continuing business, such as pharmaceutical companies Abbott Labs, AbbVie, AmerisourceBergen, Just this week. The Yale professor who put together a list of major Western companies still operating in Russia applauded multiple major American brands' decisions to pause business in that country over its government's war on Ukraine. Sorted by the extent to which businesses have retreated Russia since its invasion, the list assigns grades to almost 1,400 of them, from an A for complete withdrawal to an F for what Sonnenfeld calls digging in. His directory quickly became a cudgel against companies stubbornly holding fast and counting their rublesand a long stick to poke the Russian bear. Brands, which owns Pizza Hut, KFC and Taco Bell. "I admire all of these companies enormously," Sonnenfeld said, referring to their decisions. See: Production halted at AvtoVAZ factory making Russias iconic Lada cars. His team planned to cull the list into three buckets: companies that shuttered their operations in Russia, those that temporarily suspended them and those Visit the Yale School of Management website. Yale professor monitoring companies still doing business +4.11%, Sonnenfeld, in his interview, said that as one company after another in recent days said they were leaving Russia or suspending business, "it had a snowball effect.". A team from Yale University that keeps a list of companies with a significant presence in Russia said about 250 have announced withdrawal from the country since it invaded Ukraine. Companies Ukraine live briefing: Blinken says U.S. wont let Putin impose will on o Britains defense chief, a contender to run NATO, lays out his vision, To liberate territory, Ukraine must smash fortified Russian defenses. They literally did it a day late and a dollar short, said Malia Lazu, an entrepreneur and former bank executive who teaches at MIT Sloan School of Management. Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in, Calls grow to boycott Coca-Cola, McDonalds and PepsiCo as major firms stay in Russia, Shell to stop buying Russian oil and natural gas amid Ukraine invasion, TikTok suspends live-streaming and posting new content in Russia amid Ukraine invasion, The Body in the Woods | An Independent TV Original Documentary, The harrowing discovery at centre of The Independents new documentary, Yale professor releases list of companies staying in Russia, 60% off your 1st box + 25% off for 2 months - Gousto discount code, 10% off with the spirits Whisky Exchange sale, 10% off all orders with this Hotel Chocolat discount code, 20% or more off with personalised, local Just Eat discounts, Save up to 25% on 6 wine bottles at Waitrose Cellar, Compare broadband packages side by side to find the best deal for you, Compare cheap broadband deals from providers with fastest speed in your area, All you need to know about fibre broadband, Best Apple iPhone Deals in the UK June 2023, Compare iPhone contract deals and get the best offer this June, Compare the best mobile phone deals from the top networks and brands. The researchers said that several companies that were initially on the remain in Russia with significant exposure list have since bowed to pressure and also halted operations in the country. The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Whether its the truckers in Canada or protesters in Western Europe or people who attend rallies in the U.S., they are saying that we deserve to be heard every bit as much as some CEO sitting in a corner office., Internet watches with glee as yachts of Russian oligarchs are seized. +0.71%, Our conclusion, in consultation with those experts, is that Russia needs more Internet access, not less, he wrote. Powered and implemented by Interactive Data Managed Solutions. AstraZeneca owns New Haven bioscience leader Alexion and earned an F, citing 250 employees and a facility in Kaluga. Technology companies race to extract their workers from Russia. Youre helping those workers by not having [the West] dropping bombs and shooting them.. It was critical in all those cases to have voluntary business blockades work in tandem with economic sanctions, so the people can hear that they are becoming pariahs and things are not what their leaders are telling them. He started the first school for CEOs in his 30s, amid skepticism from senior Harvard Business School faculty that executives would want to spend their time listening to each other. The Independent has reached out to The Coca-Cola Company and PepsiCo for comment. "These are some of the strongest representing foundational American values," he said of the four companies, which announced their suspensions of business Tuesday. As a young Harvard Business School professor, Sonnenfeld wrote his first book, Corporate Views of the Public Interest, about the broader role of business leaders in society. Get this delivered to your inbox, and more info about our products and services. More than 450 companies have announced plans to pull out or curtail their activities in Russia since the list was first published by Jeffrey Sonnenfeld and his research team at the Yale School of Management. The Yale professor who put together a list of major western companies still operating in Russia applauded multiple major American brands' decisions Tuesday to pause business in that country over its government's war on Ukraine. Since then, Sonnenfeld has convened chief executives, virtually for the past two years, to take a stand. companies Hundreds of American companies have announced that they are voluntarily curtailing or halting their business in Russia, according to data compiled by our team of Macau Surprised at Malaysian Anti-Graft Bodys Jho Low Claim, Chinese Stocks in US Rally on Sign That Policy Support May Come, UK Inflation to FallCloser In Step With US and EU, Predicts Panmure Gordon, The Fed'sInflation Fight Faces a New Challenge: A Dry Panama Canal, ECB Rates Not Far Off Final Destination, Panetta Tells Monde, Galaxy, MGM Are Said to Explore Opening Casinos in Thailand, India Panel Favors Keeping Sedition Law Put on Hold by Top Court, Twitters Top Content Policy Executive Ella Irwin Resigns, London Black Cab Owner Geely Explores Raising Fresh Funds, Now Seen as an AI Stock, SoftBankIs Set for Its Best Week in Three Years, Elan Closs Stephens Named as Acting Chair of BBC From June 27, Boris Johnson Provides Covid WhatsApps Directly to UK Inquiry, Toronto House-Price Gains Accelerate Again Before Rate Decision, Hedge Funds at War for Top Traders Dangle $120 Million Payouts, Pride Planners: How Well Celebrate Despite Anti-Drag, Anti-LGBTQ Laws, Luxury Gym Entrepreneur David Barton Makesa Comeback in NYC: Review, Obesity Drugs Wont Work If No One Can Afford Them, Hyped as a Depression Treatment, Ketamine Is a Mystery, Norfolk Southern Decides to Take a Different Track, Wish You Could Be a Kid Again? The Washington Post: Yale professor lists companies 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. Copyright 2023 Nexstar Media Inc. All rights reserved. For some brands there isnt a clear and immediate path to cut off business in Russia, like for Yum! Cosmetics company Este Lauder had been on the list of those maintaining operations in Russia. WebWithdrawal - companies completely halting Russian engagements/exiting Russia. companies, including Sam Altman, chief executive of OpenAI, have signed an open letter warning of the risks of artificial intelligence. Sonnenfeld said the laggards followed this week, when the public relations arms of more than two dozen consumer products, fashion, fast food and packaged goods companies contacted him in a single day to be included. Frankly, they could do what Starbucks did which is start to buy out stores, buy out the franchises, Sonnenfeld said. in Russia