Cadbury chocolate-owner Mondelez defends staying in Russia
Summary
Mondelez, owner of Cadbury, decided to keep doing business in Russia despite the war with Ukraine. The company’s CEO said this choice protects jobs and prevents Russia from taking control of their operations, though he is unhappy that taxes they pay may support the war.Key Facts
- Mondelez kept its business open in Russia after Russia invaded Ukraine in 2022.
- CEO Dirk Van de Put said pulling out could lead Russia to seize their factories and use profits to fund the war.
- The company stopped new investments and advertising in Russia but continues operations.
- Mondelez earns about $1 billion to $1.4 billion yearly from sales in Russia.
- More than 70 UK lawmakers asked Mondelez to stop doing business in Russia, citing the war’s impact on Ukrainian civilians.
- Mondelez also runs two factories in Ukraine, where they have rebuilt damaged plants and doubled worker salaries since the conflict began.
- The CEO confirmed employees are kept safe despite the ongoing conflict near their Ukrainian plants.
- Mondelez makes other products including Philadelphia cream cheese, Ritz crackers, and Toblerone chocolate.
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