McDonald's to sell its business in Russia

McDonald’s said Monday that it will sell its business in Russia after more than 30 years in the country.

The company cited the war in Ukraine and the unpredictable operating environment in Russia as its reasons for leaving, saying in a news release that its “continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values.”

“We’re exceptionally proud of the 62,000 employees who work in our restaurants, along with the hundreds of Russian suppliers who support our business, and our local franchisees. Their dedication and loyalty to McDonald’s make today’s announcement extremely difficult,” Chris Kempczinski, McDonald’s president and chief executive officer, said in the press release. “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.”