Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
McDonald's is the world's largest restaurant chain by revenue, serving over 69 million customers daily in over 100 countries.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedGlobal 500, is an annual ranking of the top 500 corporations worldwide
Global 500Top 100 largest companies in Russia by revenue
Top 100Bloomberg reports that the business abruptly left the Russian market with great losses for itself: in March 2022, they assured CEO Oleg Paroev of their plans to stay in Russia. After that, the hashtag #BoycottMcDonalds spread on social networks, and Western officials called on the fast food chain to leave the market. The company's decision to leave Russia came as a shock to the management of the Russian McDonald's; the business itself found itself in limbo: "We had no idea what would happen to the business, whether it would remain suspended or be completely closed." In May, it became clear that Alexander Govor would buy out the Russian part of the McDonald's business. But this was only the beginning of a difficult transformation process; serious investments were required to (re)launch the chain - investment, technology and management. In addition to changing the name and design, Govor's team was required to rebuild all supply chains, invest in opening new industrial enterprises and quickly return about 60 thousand personnel to work.
Left the Russian market & sold Russian business. According to Russia's anti-monopoly service, which approved the takeover, McDonald's retains the right to buy its Russia restaurants back within 15 years; 10.06.2022: "СLUB HOTEL" LLC becomes the new founder of the organization, The record about the founder "MCDONALDS CORPORATION" has been deleted. The sanctioned senator from Kabardino-Balkaria was named the real buyer of McDonald's Russian business. Kadyrov's associates could become the "shadow owners" of Russian McDonald's.