KFC parent company halting investments in Russia

KFC parent company Yum! Brands announced Tuesday that it is suspending its operation of KFCs in Russia that are company-owned, as well as all Pizza Hut restaurants.

Yum! Brands said it will be shifting its profits from those locations in Russia and putting the money into humanitarian efforts, such as donations to the Red Cross working to aid those being impacted by the war in Ukraine, activating a company disaster relief fund in order to support employees in Ukraine, and matching donations made by Yum! Brands employees to Ukrainian relief programs, such as UNICEF, Red Cross, World Food Program and the International Rescue Committee. 

The company also said that its franchises in surrounding areas will be providing food donations for refugees from Ukraine. 

Yum! Brands said in its press release, “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.”

The announcement from the KFC and Pizza Hut parent company follows similar decisions by McDonald’s, Starbucks, Coca-Cola and PepsiCo, as well as Airbnb, Netflix, Visa, Mastercard, and American Express.