Residential market sees uptick in first-time buyers, decline in repeat buyers
Originally conceptualised as a simple “withdraw” vs “remain” list, the list of companies commensurate with their involvement with Russia, now consists of five categories. These are:
* Withdrawal – companies that have made a clean break with the country, that have completely halted their engagements with Russia and/or have exited the country.
* Suspension – companies that have kept their options open for return. These are companies that are temporarily curtailing operations while keeping return-options open.
* Scaling back – companies that are reducing activities. These are companies that are scaling back some business operations while continuing others.
* Buying time – companies that are holding off new investments or developments. These are companies that are postponing future planned investment, development or marketing while continuing substantive business.
* Digging in – companies that are defying demands for exit. These are companies that are defying demands to exit Russia or to reduce their activities,
The list is updated continuously by Jeffrey Sonnenfeld and his team of experts, research fellows, and students at the Yale Chief Executive Leadership Institute to reflect new announcements from companies in as close to real time as possible.
The list has already garnered extensive coverage for its role in helping catalyse the mass corporate exodus from Russia.
When this list was first published the week of February 28, only several dozen companies had announced their departure.
“Hundreds of companies have withdrawn in the days since, and we are humbled that our list helped galvanise millions around the world to raise awareness and take action,” a spokesperson from the Yale Chief Executive Leadership Institute said.
“Although we are pleased that our list has been widely circulated across company boardrooms, government officials, and media outlets as the most authoritative and comprehensive record of this powerful, historic movement, we are most inspired by the thousands of messages we have received from readers across the globe, especially those from Ukraine, and we continue to welcome your tips, insights, and feedback.”
#1. WITHDRAWAL – Clean break (169 Companies) (As of Mar 23)Accentureexiting Russia completelyAcronissuspend operations in RussiaActivision Blizzardsuspend all sales in RussiaAdenzasuspend operations in RussiaAECOMsuspend operations in RussiaAerCapcease lending to RussiansAirbnbsuspend bookings in RussiaAir Productsfull divestiture from Russia Alaska Airlinessuspend Russian partnershipsAlcoasuspend all business with RussiaAldiremove products from RussiaAllen & Overyrefuse new Russian partnerships but continue existingAMDsuspend all sales to RussiaAmerican Airlinesno flying over Russian airspaceAsdaremove products from RussiaAsian Infrastructure Investment Bankcurtail Russian access to capital marketsAsos suspend all shipments to RussiaAuthentic Brands Group – Reeboksuccessfully completed suspension of all operationsAutodesksuspend operations in RussiaAvery Dennisonexit Russian operationsAvidsuspend all sales to RussiaBaker Bottssuspend operations in RussiaBaker McKenziesuspend services for all Kremlin entities onlyBaker Tillygradual wind down of operations in RussiaBBDOexit Russian operationsBCGsuspend all consulting in Russia BlackRockcurtail Russian access to capital marketsBoltsuspend Russian partnershipsBoohoo Groupsuspend all shipments to RussiaBookingsuspend bookings in RussiaBosesuspend all operations in RussiaBP suspend operations/divest from 20% Rosneft stakeBritish American Tobaccosuspend operations in Russia Brown-Formansuspend commercial operations in RussiaBryan Caveexit Russian operationsBumblesuspend operations in RussiaCarnivaldiscontinue Russia itineraries Centricaexit gas supply partnership with GazpromClarivateexit Russian operationsClifford Chancesuspend certain Russian relationshipsCoupasuspend operations in RussiaCourserasuspend operations in RussiaCrocssuspend D2C businessCumminsexit Russian operationsDaimlersuspending all business in RussiaDB Schenkersuspend all shipments to RussiaDDBexit Russian operationsDechertsuspend operations in RussiaDeezersuspend operations in RussiaDeloitteleaving Russia completelyDelta Air Linessuspend agreement with AeroflotDentonsexit Russian operationsDentsu Internationaldivest joint venture/leave RussiaDLA Pipersuspend certain operations in RussiaDXC Technologyleaving Russia completelyEarthDaily Analyticssuspend operations in Russia eBay suspend all shipments to RussiaElectronic Artssuspend all operations in RussiaEnidivest Russian pipelineEPAMdiscontinue servicing Russian customersEquinorexit joint ventures in RussiaEsri curtailing sales to RussiaEtsydeactivate all listings from Russian sellersEurovisionban on all Russian competitionEversheds Sutherlandclose Russia officeExpediasuspend bookings in RussiaExxon exit Rosneft partnershipEYleaving Russia completelyFarfetchsuspend all shipments to RussiaFazersuspend operations in RussiaFICOexiting all work in RussiaFerragamosuspend all shipments to RussiaFIFAban Russian athletes from competingFitchsuspend operations in RussiaFormula Onesuspend all operations in RussiaFortinetsuspend operations in RussiaFreshfieldssuspend certain Russian partnershipsGeodissuspend all shipments to RussiaGlobal Foundriessuspend all shipments to RussiaGrainprosuspend all operations in RussiaGrammarlysuspend operations in RussiaGrant Thorntonclosing business in Russia Herbert Smithsuspend operations in RussiaHogan Lovellsexit Russian operationsICBCcurtail Russian access to capital marketsIntercontinental Exchangecurtail Russian access to capital marketsInternational Boxing Federationban on all Russian competitionInternational Cat Federationban Russian cats from competitionsInternational Cycling Unionban on all Russian competitionInternational Ice Hockey Federationban on all Russian competitionInternational Skating Unionban on all Russian competitionInternational Tennis Federationsuspend Russian partnershipsInternational Weightlifting Federationban on all Russian competitionInterpublic Groupexit Russian operationsIOCban Russian athletes from competingJ Sainsburyremove products from RussiaJetBrainssuspend all activity indefinitelyKnight Franksuspend new investments in RussiaKorean Air Linesno flying over Russian airspaceKPMGleaving Russia completelyKuehne + Nagel AGsuspend all shipments to RussiaLatham & Watkinssuspend operations in RussiaLinklaters suspend operations in RussiaLive Nation Entertainmentsuspend all operations in RussiaLondon Stock Exchange Groupcurtail Russian access to capital marketsMarsh McLennanexit operations in RussiaMcKinseysuspend all consulting in Russia Monroe Energysuspend partnerships with RussiaMoody’ssuspend operations within RussiaMorgan Lewissuspend operations in RussiaMorrisonsremove products from RussiaMSC suspend all shipments to RussiaMSCIcurtail Russian access to capital marketsNasdaqcurtail Russian access to capital marketsNetflixsuspend operations in RussiaNetscoutsuspend Russian operationsNew Development Bankcurtail Russian access to capital marketsNorton Rose Fulbrightexit from RussiaNorwegian Cruise Linesdiscontinue Russian itinerariesOceana Cruisesdiscontinue Russian itinerariesOmnicom Group, Inc.exit Russian operationsOmnicom Media Groupexit Russian operations OMVdivest Russian projectsOneWebsuspend use of Russian airspaceOrklaexit Russian operationsPar Pacificsuspend partnerships with RussiaPauligsuspend operations in RussiaPublicis Groupcede ownership to local affiliatesPwCleaving Russia completelyR&Aban on all Russian competitionRadio Free Europesuspend operations in RussiaRegent Seven Seas Cruisesdiscontinue Russian itinerariesRoku remove Kremlin-linked propaganda and ads Rolexsuspend exports to RussiaS&Pcurtail Russian access to capital marketsSabresuspend partnership with AeroflotSavillssuspend new investments in RussiaShellsuspend operations in RussiaSignet Jewelerssuspend operations in RussiaSpotifyclosed office and other restrictionsSquire Patton Boggssuspend operations in RussiaStanley Black & Deckersuspend operations in RussiaState Streetcurtail Russian access to capital marketsSwarovskisuspend all sales in RussiaTake-Two Interactivesuspend all sales in RussiaTJ Maxxdivest Familia subsidiaryTripAdvisorremove Kremlin-linked propaganda and ads Uberdivest from partnership with YandexUEFAban Russian athletes from competingUniper SEsuspend new Russian gas purchases/divest UniproUnited Airlinesno flying over Russian airspaceUpworksuspend operations in RussiaVanguardsuspend operations in Russia Waitroseremove products from RussiaWaters Corporationsuspend all operations in RussiaWeWorkplanning divestment of Russian operationsWhite & Casewind down Russian operationsWinston & Strawnsuspend operations in RussiaWintershall Dea AGexit Russian investmentsWomen’s Tennis Associationsuspend Russian partnershipsWorld Athletics Councilban on all Russian competitionWorld Boxing Associationban on all Russian competitionWorld Boxing Councilsuspend Russia from title fightsWorld Boxing Organization ban on all Russian competitionWorld Federation of Exchangessuspend all Russian members and affiliatesWorld Rowing Federationban on all Russian competitionWorld Rugby Unionban on all Russian competitionWPP PLCsuspend all operations in RussiaWWEsuspend all operations in RussiaYOOXsuspend all shipments to Russia#2. SUSPENSION – Keeping options open for return (190 Companies)3Msuspend operations in RussiaAbrdnsuspend investments in Russia and reduce exposureAdidassuspend operations in RussiaAdobesuspend all sales in RussiaADP suspend new sales/services to RussiaAirbussuspend supply of parts to AeroflotAkamai suspend operations in RussiaAkin Gumpsuspend operations in RussiaAlphabetsuspend all operations in RussiaAlstomsuspend shipments to RussiaAmazonsuspend operations in RussiaAmerican Expresssuspend operations in RussiaAmwaysuspend operations in RussiaAB InBevsuspend licenses for production and sales in RussiaApplesuspend all sales Assicurazioni Generaliexit Russia completelyAston Martinsuspend all shipments to RussiaAtlas Copcosuspend deliveries in RussiaAtlassiansuspend new software sales to RussiaBainsuspend consulting for all Russian businessesBank of Chinacurtail Russian access to capital marketsBentley suspend all shipments to RussiaBoeingsuspend operations in Russia/titanium purchasesBombardierrestrict new Russian businessBridgestone Tiresuspend manufacturing in Russia and shipments intoBudvarsuspend all shipments to RussiaBurberry suspend all shipments to RussiaBurger Kinghalt corporate support for franchisesCanada Goosesuspend all shipments to RussiaCanadian Tireclose Russia storesCanonsuspend deliveries in RussiaCaterpillarsuspend Russian manufacturing facilitiesCBREsuspend new investments in RussiaChanelsuspend all operations in RussiaChipperfieldsuspend operations in RussiaCiscosuspend all operations in RussiaCitiexpand the scope of the exit processCitrixsuspend all sales to RussiaCleary Gottliebsuspend Russian operations Cloroxsuspend all business activity in RussiaCMA CGMsuspend all shipments to RussiaCoca-Colasuspend certain operations in RussiaCogent Communicationscut all internet to RussiaCommerzbanksuspend operations in RussiaContinental suspend operations at a factoryDassault Aviationsuspend all shipments to RussiaDebevoise & Plimptonsuspend operations in RussiaDellsuspend all shipments to RussiaDeutsche Bankwind down business in RussiaDHLsuspend all shipments to RussiaDiageosuspend all shipments to RussiaDirecTVcut Kremlin backed TV networksDiscoversuspend efforts to establish Russian presenceDisneypause new content releasesDSV A/Ssuspend all shipments to RussiaEricssonsuspend all shipments to RussiaEstee Laudersuspend operations in RussiaFedExsuspend all shipments to RussiaFerrarisuspend sales in RussiaFordsuspend joint ventures in RussiaGMsuspend all shipments to RussiaGrupo Bimbosuspend Russian operationsH&Msuspend all shipments to RussiaHapag Lloydsuspend all shipments to RussiaHarley-Davidsonsuspending all business in RussiaHeidrick & Strugglessuspend all operations in RussiaHeineken suspend operations in RussiaHerbalifesuspend sales and shipments to RussiaHermessuspend all operations in RussiaHitachi Constructionsuspend all shipments to RussiaHMM suspend all shipments to RussiaHondasuspend all shipments to RussiaHoneywellsuspend virtually all sales in Russia HP Inc.suspend all shipments to RussiaHP Enterprise (Independent from HP Inc.)suspend all shipments to RussiaHyundaisuspend manufacturing in RussiaIBMsuspend technology sales to Russia on Feb 24Ikeasuspend all operations in RussiaImperial Brandssuspend operations in RussiaIndeedsuspend service in RussiaInditexclose Russian stores and suspend salesIntelsuspend sales to RussiaIntuitsuspend customer accounts Ivecosuspend deliveries to RussiaJaguarsuspend all shipments to RussiaJCBsuspend operations in RussiaJD Sportssuspend operations in RussiaJohnson Controlssuspend operations in RussiaJuniper Networkssuspend sales in RussiaJYSK suspend operations in RussiaKeringclose all stores in RussiaKinross Goldsuspend operations in RussiaKomatsususpend all shipments to RussiaLegosuspend all shipments to RussiaLeica Camera AGsuspend operations in RussiaLevi Strausssuspend all sales in RussiaLexmarksuspend shipments to RussiaLG Electronicssuspend all shipments to RussiaLindt-Sprunglisuspend operations in RussiaLogitechsuspend shipments to RussiaL’Orealsuspend operations in RussiaLouis Dreyfus suspend operations in RussiaLumencut networks to RussiaLVMHsuspend all operations in RussiaMaersksuspend all shipments to RussiaMagnasuspend Russian plantsMangosuspend direct operations in RussiaMarks & Spencersuspend all shipments to RussiaMastercardsuspend operations in RussiaMattelsuspend shipments into RussiaMazdasuspend all shipments to RussiaMcCain Foodssuspend operations in RussiaMcCormicksuspend operations in RussiaMcDonald’ssuspend direct operations/restaurantsMercedes-Benzsuspend all shipments to RussiaMetasuspend Russian advertisingMetso Outotecsuspend all shipments to RussiaMettler Toledosuspend all shipments to RussiaMicrosoftsuspend all operations in RussiaMonclersuspend operations in RussiaMothercaresuspend operations in RussiaMVRDVsuspend operations in RussiaNeste Oyjsuspend purchases of Russian oilNHL pause all partnerships in RussiaNikesuspend all operations in RussiaNintendosuspend all sales in RussiaNissansuspend all shipments to RussiaNokiasuspend all shipments to RussiaNvidiasuspend all sales in RussiaOraclesuspend all operations in RussiaPanasonicsuspend operations in RussiaPapa John’ssuspend support for all Russian franchisesParamountpause new content releases to RussiaPayoneerclose Russian accountsPaypalsuspend operations in RussiaPonsse PLCdiscontinue all operations in RussiaPradasuspend operations in RussiaPreem ABsuspend purchases of Russian oilPumasuspend all shipments to RussiaPVH suspend operations in RussiaQualcommsuspend shipments to RussiaRabobankcurtail Russian access to capital marketsRalph Laurenpause operations in RussiaRaytheon suspend operations in RussiaRemitly Globalstop accepting new users in RussiaRichemontsuspend all operations in RussiaRicohsuspend shipments to RussiaRockwell Automationsuspend operations in RussiaRolls Roycesuspend all shipments to RussiaSalesforce suspend operations in RussiaSamsonite Internationalsuspend operations in RussiaSamsungsuspend all shipments to RussiaSandviksuspend all operations in RussiaSAP suspend all sales to RussiaScandinavian Tobaccosuspend most operations in RussiaScaniasuspend all sales in RussiaSkodasuspend all production in RussiaSnapsuspend all sales to RussiaSonoSimsuspend distributor relationship in RussiaSonypause release of new films in RussiaStarbuckssuspend all operations in RussiaStellantissuspend operations in RussiaSubarususpend all shipments to RussiaSwatchsuspend direct operations in RussiaSylvamosuspend operations in RussiaThermo Fishersuspend sales and manufacturing in RussiaTikToksuspend operations in RussiaTimkensuspend operations in Russia Toyotasuspend all shipments to RussiaTrane Technologiessuspend shipments to RussiaTrimblesuspend all sales in RussiaTSMCsuspend all shipments to RussiaTwin Discsuspend all shipments to RussiaTwittersuspend certain operations in RussiaUnder Armoursuspend all shipments to RussiaUniqlo/Fast Retailingsuspend operations in RussiaUniversal suspend operations in RussiaUPSsuspend all shipments to RussiaValero Energysuspend purchases of Russian oilValiosuspend operations in RussiaVisasuspend operations in RussiaViva Energysuspend purchases of Russian oilVMWaresuspend operations in RussiaVolkswagensuspend all shipments to RussiaVolvosuspend all shipments to RussiaWarnerMediapause new content releasesWestern Unionsuspend operations in RussiaWise PLCsuspend Russian partnershipsXeroxsuspend shipments to RussiaYouTubesuspend operations in RussiaZHAsuspend operations in Russia#3. SCALING BACK – Reducing current operations (30 Companies)Abbviesuspend aesthetics operations, pause new clinical trialsAllianzmeaningfully reduce exposure to RussiaAmadeus IT Groupsuspend partnership with AeroflotBacardipaused exports to Russia but not domestic operationsBNP Paribassuspend new business in Russia/curtail financing Boschsuspend some shipments and plants but not allBungesuspend exports but continue certain domesticCarlsbergsuspend exports and certain operationsCoinbaseblock certain illicit Russian accounts but not allDeeresuspend shipments into Russia onlyDowsuspend investments/some purchases but not allElseviersuspended all sales except essential health productsFieldfishersuspend certain Russian relationshipsGE suspend certain operations but continue othersGoldman Sachswind down business in Russia but buy Russian debtHSBCcurtail Russian access to capital marketsING NVcurtail Russian access to capital marketsJPMorganwind down business in Russia but buy Russian debtKearneysuspend certain operations in RussiaKelloggsuspend new investments except essentials (minor)Michelin Tirehalting production at some plants/reviewsMielesuspend operations except exempt healthcareNalco Water (Ecolab)suspended services except services critical to health Naturasuspend some subsidiary operations but not allNielsenIQsuspend consulting service but not core businessNokian Tyresmeaningfully reduce production in RussiaOriflame Cosmeticssuspend online sales to end consumers but not othersPepsisuspend operations in Russia except essentialsSidley Austinsuspend services for all Kremlin entitiesSkaddensuspend certain operations in Russia but not allWhirlpoollimiting production in Russia#4. BUYING TIME – Holding off new investments/development (54 Companies) Abbott Labssuspend non-essential business activityAccorsuspend new investments/developmentADMunspecified scaling down of non-essential operationsAir Liquidesuspend investment/development but not operationsAmerisourceBergensuspend new business initiatives but continue existingArconicsuspend new contracts but continue existingBaker Hughessuspend new investments/developmentBarillasuspend new investments/advertisingBASF SEsuspend new Russian relationships but not existingBayersuspend non-essential business activityCargillunspecified scaling down of non-essential operationsColgate-Palmolivecontinue essential health and hygiene productsCotysuspend new investments and advertising onlyDanonesuspend new investment in Russia onlyDunkin Donuts suspend new investments and developments onlyFocus Brands – Cinnabonsuspend new investments/developmentGeneral Millssuspend capital investments/advertising for JVGlaxoSmithKlinesuspend advertising/new clinical trials in RussiaHalliburtonsuspend future business in RussiaHenkelsuspend investments in RussiaHiltonsuspend new investments/close corporate officeHinessuspend new investments in RussiaHyattsuspend investments and new developmentsIntercontinental Hotelssuspend new investments/close corporate officeJapan Tobaccosuspend new investments in RussiaJohnson & Johnsonpause patient enrollment in ongoing trialsKimberly-Clarksuspend new investments in RussiaKraft Heinz – JBSsuspend new investments but not domestic operationsLamb Westonsuspend new investments but not domestic operationsLindesuspend new development/investmentsMarriottsuspend new investment/close corp. officeMarssuspend advertising/new investments in RussiaMerckpause new investments/clinical trial enrollmentMohawk Industriessuspend new investments in RussiaMondelez – Nabiscosuspend new investments/advertisingNestlesuspend new investments/advertisingNorsk Hydrofreeze Russian investments/no new contractsOtis Worldwidesuspend new investments/new contractsPfizersuspend new investments/clinical trials in Russia Philip Morris suspend new investments in RussiaPirellisuspend new investments in RussiaProcter & Gamblesuspend new investment/advertising in RussiaReckitt Benckiser Groupsuspend new investments/advertising in RussiaRockwoolcancel new investments in Russia Sanofisuspend new investment/advertising in RussiaSchlumbergersuspend new investments/developmentSchneider Electricsuspend new investments in RussiaSiemensfreeze new business in RussiaSiemens Energy AG (Independent)freeze new business in RussiaSubwaysuspend new investments/advertisingTotalEnergiessuspend new investmenta in Russia Trafigurasuspend new investments in RussiaUnileversuspend new investments but not domestic operationsWeatherford Internationalsuspend new investments/deployments in RussiaYum Brandssuspend new investments in Russia#5. DIGGING IN – Defying demands for exit or reduction of activities (38 Companies)Acernot disclosed publicly, but significant market share AstraZeneca250 staff and Kaluga production facility Asusnot disclosed publiclyAuchan-Retail$3.5 billion in revenue from RussiaBall Corporation3 plants in RussiaCalfrac Well Services11% of revenues from RussiaCersanitsanitation equipment exports Cloudflarenot disclosed publicly Credit Suisse$1 billion in net exposure to RussiaDecathlonat least 50 stores in Russia, $300MM revenueDeutsche Telekom 2,000 employees in Russia Emerson ElectricMetram subsidiary in ChelyabinskEmirates Airlinesnot disclosed publiclyFM Globaldeep relationship with IngosstrakhFortivenot disclosed publiclyGeberit2% of revenue from Russia Glencoreequity investments in Rosneft and othersGreif9 plants in RussiaGruma9 plants in Russia, Greif Perm and Greif Vologda in RussiaID Logisticssignificant Russian subsidiaryInternational Papersignificant Russian joint ventureIPG Photonicshigh power laser sales in RussiaKnaufRussian production sitesKoch Industriesseveral business lines in RussiaLenovonot disclosed publicly, but significant market share Leroy Merlin$4 billion in revenue from RussiaLiebrecht & Woodcommercial real estate in RussiaManitowocsignificant sales to RussiaMetro$3 billion in revenue MOLGroupdevelopment and operation of Baitugan fieldMSInot disclosed publicly, but significant market share Polpharmainvestment in Akrikhin PPG$150MM in revenue from Russia/paint facility in LipetskRaiffeisen$25 billion in net exposure to RussiaRenaultlocal workforce of 40,000 and 10% of revenues SC Johnsonmanufacturing facility in Chudovo and sales Societe Generale$20 billion in net exposure to Russia and 2.8% of incomeTeradatapartnerships with Russian banks include SberbankYoung Livingdistributors in Russia
Source: bizcommunity.com
