McDonald’s out of Russia

McDonald’s is done with Russia after more than three decades of investment, concluding that doing business there is ‘‘no longer tenable’’ as the war in Ukraine stretches into a third month. The fast food giant’s decision to seek a local buyer for hundreds of Russian stores marks the first time it has given up on a major international market, chief executive Chris Kempczinski noted yesterday in a letter addressed to the ‘‘Global McFamily.’’ But it’s ‘‘impossible to ignore the humanitarian crisis caused by the war in Ukraine,’’ he said. McDonald’s leadership concluded that continuing to operate in Russia no longer made good business sense and would damage its brand. The Golden Arches, one of the most recognisable logos in the world, is a $180.8 billion marvel of globalisation: It had more than 40,000 stores worldwide at the end of 2021 and records more than $23.2b a year in sales.