Yum Brands Inc, the parent company of the KFC and Pizza Hut, said on Tuesday it was suspending investment in Russia and operations at its restaurants, redirecting all profits from operations in the country to humanitarian efforts.
A growing number of Western firms have pulled out of Russia amid concerns over its war with Ukraine which has forced 2 million people to flee the country, according to UN figures.
The Kentucky-based Yum! Brands joined western brands, including McDonald’s, Starbucks, Coca-Cola, and PepsiCo that are halting operations in Russia over its war on Ukraine.
Yum has at least 1,000 KFC and 50 Pizza Hut locations in Russia.
“Those humanitarian efforts include a $1 million donation from the Yum! Brands Foundation to the Red Cross to support those affected by the crisis,” it noted.
“As always, we remain focused on the safety of our people in the region and will continue to support our teams in Ukraine while evaluating the ways Yum! Brands can make a positive impact in the region.”
Source: Anadolu Agency
