business
Cadbury chocolate-owner Mondelez defends staying in Russia
Key takeaways
- Dearbail Jordan Business reporter Getty Images Dirk Van de Put, chief executive of Mondelez.
- Many Western companies such as McDonald's exited Russia after it launched a full-scale assault on its neighbour.
- Others remained but Mondelez said it had discontinued new investment in its Russian business and suspended spending on advertising.
Dearbail Jordan Business reporter Getty Images Dirk Van de Put, chief executive of Mondelez. The boss of Cadbury chocolate-maker Mondelez has defended its decision to continue doing business in Russia but admitted he is "not pleased" the firm's taxes are funding the war with Ukraine.
Chief executive Dirk Van de Put said it was the "right decision" to stay after Russia invaded Ukraine in 2022, saying pulling out would risk thousands of jobs and leave Mondelez vulnerable to the Kremlin taking control of its local operations.
Many Western companies such as McDonald's exited Russia after it launched a full-scale assault on its neighbour.
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