What happened: In a letter on March 9, McDonald’s CEO Chris Kempzinski wrote, “The conflict in Ukraine has caused unspeakable suffering to innocent people and the company condemns the aggression and violence.” The food chain closing their business comes after hundreds of other western companies quit their operations in Russia. Details: Fortune.com quotes the development as, “After a slew of international companies announced they will stop doing business in Russia, McDonald’s said that it would temporarily close all of its restaurants.” It is pertinent to mention that Western brands like Netflix, Google, Levi’s, and Nike have also stopped their operations in the Russian market. A few weeks ago, McDonald’s was also under fire for not shutting their business in Russia as a trend #BoycottMcDonalds was witnessed on Twitter. More: On the other hand, not every McDonald’s in Russia is owned by the company, as many of its franchises are also owned by the local people. However, 84% of McDonald’s in Russia are owned by the company, which accounts for 9% of the company’s total revenue.
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