by
Liz Moore
PCDP Communications Committee Chair
I’m sure each of us is asking how we can support Ukraine’s efforts to stop the Russian incursion into their country? and the devastation, death and destruction that Putin/Russia is causing. In their March issue, Fortune magazine published a provocative and eye-opening article by Jeffrey Sonnenfeld and Steven Tianen titled “Over 400 Companies Have Withdrawn from Russia – But Some Remain”. The Yale School of Management has created a list which shows companies that are making a difference …and those that are not. Sonnenfeld has listed companies in groups based on their actions as “withdrawal, suspension, scaling back, buying time or digging in”.
The article below is reprinted from Fortune Magazine and contains links to the list of companies within the text.
Those who want to stop Russia’s murderous attack against Ukraine should stop investing in or buying the products of these companies.
Koch Industries, whose owners gave to right-wing causes for years, is now financing Putin’s war. The people who make Brawny paper towels, Dixie cups, Quilted Northern toilet paper, Vanity Fair napkins and Georgia-Pacific lumber are abetting the spilling of Ukrainians’ blood.
Like Reebok shoes? They’re being used to stomp on Ukraine. Authentic Brands Group, which also owns Aeropostale, Eddie Bauer, Brooks Brothers and Nine West, among others, is in the hall of shame.
Before you bite into a Cinnabon (or Carvel ice cream, Schlotzsky’s sandwich or Auntie Anne’s pretzel) consider that parent company Focus Brands is taking a bite out of democracy in Ukraine.
So is Subway. While selling you the All-American Club, it’s giving Ukrainians the Cold-Cock Combo by refusing to cut loose its 446 Russian franchises.
Several other household brands — Truvia and Diamond Crystal salt (Cargill), Avon cosmetics (Natura), LG appliances, ASUS laptops, Mission tortillas (Gruma) and Pirelli tires — are produced by companies on the shameful list.
Are you or your mutual fund invested in Halliburton, Baker Hughes or Schlumberger? Then you should know that these oil-services companies could deal a huge blow to Putin’s ability to wage war — but they choose profit instead.
Let’s name and shame all the others among the 33: Advertising firms BBDO, DDB and Omnicom; accountant Baker Tilly; industrial companies Air Liquide, Air Products, Greif, IPG Photonics, Linde, Mettler Toledo, Nalco and Rockwool; French hotelier Accor and retailers Auchan, Decathlon and Leroy Merlin; German wholesaler Metro; cloud service Cloudflare; International Paper; and Sweden’s Oriflame Cosmetics.
Another 72 multinationals have made only partial pullbacks from Russia, such as reducing current operations or holding off on new investments — actions Sonnenfeld calls “very questionable” and “smokescreens.” Included here: Dunkin Donuts, General Mills, Mondelez (Oreos and other Nabisco products), candymaker Mars, Procter & Gamble, Yum Brands (Pizza Hut, Taco Bell), Hilton, Hyatt and Marriott.
All these businesses could be doing more to stop Putin’s savagery and war crimes. Because they won’t, we all should do more to stop them. Go to Sonnenfeld’s website via Yale’s School of Management to make sure you aren’t funding the businesses that are funding Putin’s war machine — and reward the vast majority of companies that share Zelensky’s belief that peace is more important than profit.
