McDonald's has decided to leave Russia altogether after temporarily shutting down more than 800 restaurants following the invasion of Ukraine.
The burger chain will sell its Russia business, saying 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, nor is it consistent with McDonald's values."
It added that once the sale is finalized, the Russian restaurants will be "de-Arched," meaning the locations will no longer be allowed to use the McDonald's name, logo, or menu.
In the same vein, the company pointed out that its employees will still be paid until the transaction closes and that "employees have future employment with any potential buyer."
CEO Chris Kempczinski affirmed that decision was "extremely difficult", stressing that he is proud of the more than 60,000 workers employed in Russia.
"However, we have a commitment to our global community and must remain steadfast in our values. And our commitment to our values means that we can no longer keep the Arches shining there," Kempczinski said.
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