Important Takeaways:

• McDonald’s, Starbucks, Coke, Pepsi Join Exodus Out of Russia
• The Chicago-based burger giant said it will temporarily close 850 stores but continue paying its 62,000 employees in Russia “who have poured their heart and soul into our McDonald’s brand.”
• Starbucks had said that it was donating profits from its 130 Russian stores __ owned and operated by Kuwait-based franchisee Alshaya Group __ to humanitarian relief efforts in Ukraine
• Coca-Cola Co. announced it was suspending its business in Russia, but it offered few details.
• Pepsi, based in Purchase, New York, said it will suspend sales of beverages in Russia. It will also suspend any capital investments and promotional activities.
• Yum Brands, the parent company of KFC and Pizza Hut, said late Tuesday it planned to temporarily close 70 company-owned KFC restaurants in Russia.
• Burger King said it is redirecting the profits from its 800 Russian stores to relief efforts and donating $2 million in food vouchers to Ukrainian refugees.

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