KFC’s parent company, Yum! Brands, announced on Tuesday that it is suspending operations of all KFC company-owned restaurants in Russia, and it is finalizing a deal to suspend all Pizza Hut operations in the country. Of the 1100 KFCs in Russia, the company owns 70, and the remaining 1030 franchises will continue operations.
“This action builds on our decision to suspend all investment and restaurant development in Russia and redirect all profits from operations in Russia to humanitarian efforts,” Yum! Brands announced in a statement.
“Those humanitarian efforts include a $1 million donation from the Yum! Brands Foundation to the Red Cross to support those affected by the crisis, activating the Yum! Disaster Relief Fund to support Ukrainian franchise employees, and matching donations from employees to the following charities providing relief in Ukraine: UNICEF, Red Cross, World Food Program and International Rescue Committee. In addition, our franchisees in the surrounding regions are providing food for refugees,” the statement continued.
The announcement follows similar decisions made by PepsiCo, Coca-Cola, McDonald’s, Starbucks, Netflix, Visa, Mastercard, and many other companies.