Nervous staff and no bankers: Western firms struggle to exit Russia [Reuters]
McDonald's Corporation (MCD)
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Source: Reuters
Companies have been wrestling with how to exit in ways that limit the financial impact, do not put employees at risk and, in some cases, offer the opportunity to return in future. Finnish coffee boss Rolf Ladau was one of the early movers. When Western governments started slapping sanctions on Russia following its invasion of Ukraine in late February, the CEO of Paulig realised the coffee roasting business there was no longer viable. Coffee wasn't on sanctions lists, but it was almost impossible to get beans into Russia as freight companies stopped shipping to and from the country. Paying in roubles was getting harder. Two weeks into the conflict, Ladau decided Paulig would leave, and two months later it did what usually takes as long as a year - find a suitable buyer and seal a deal. In May, Paulig sold its Russian business to private Indian investor Vikas Soi. More than a thousand Western companies have joined a corporate exodus from Russia - unprecedented in its scale an
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/18/24 - Form PX14A6G
- 4/9/24 - Form PX14A6G
- 4/8/24 - Form DEFA14A
- MCD's page on the SEC website