25.07.2023, 22:47
Unilever explained the decision to stay in Russia
Source: OREANDA-NEWS
OREANDA-NEWS Unilever does not consider it the right decision to completely withdraw from the Russian market and prefers a limited business option. CEO Hein Schumacher explained the firm's position in an interview with Reuters.
According to him, Unilever had three options in the current situation. The first one is the stoppage of production, but the company considered that this could lead to the nationalization of the company, "taking into account all the events that have occurred recently." In July, the enterprises of the French dairy producer Danone, as well as the share of the Danish brewing company Carlsberg in the Baltika plants, came under the temporary management of Russia.
The second option is to sell the business, but "the reality is that we have not found a viable solution that meets our stated goals," Schumacher said. "None of the options is really good, but the last one, which involves doing our business in limited conditions, is the least bad, and that's what we're doing," he added.
According to him, Unilever had three options in the current situation. The first one is the stoppage of production, but the company considered that this could lead to the nationalization of the company, "taking into account all the events that have occurred recently." In July, the enterprises of the French dairy producer Danone, as well as the share of the Danish brewing company Carlsberg in the Baltika plants, came under the temporary management of Russia.
The second option is to sell the business, but "the reality is that we have not found a viable solution that meets our stated goals," Schumacher said. "None of the options is really good, but the last one, which involves doing our business in limited conditions, is the least bad, and that's what we're doing," he added.
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