Mondelez (MDLZ) Generates $1.4B Annually Despite Russian Operations
Published on · Source: bbc.com
AI Summary
Summarized by AI from the source belowMondelez (MDLZ) reports generating between $1 billion and $1.4 billion annually from its Russian operations since the invasion of Ukraine in 2022. CEO Dirk Van de Put defended the decision to remain in Russia, stating it protects jobs and prevents the Kremlin from seizing the business. The company has halted new investments and advertising in Russia but maintains operations there. Meanwhile, Mondelez continues to operate in Ukraine, where it has faced ongoing challenges, including rebuilding a plant that has been hit multiple times during the conflict.
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About Mondelez International (MDLZ)
Mondelez International is a global snacking company behind Oreo, Cadbury, and Ritz.
The Consumer Staples sector covers food, beverage and household-goods companies that tend to hold up in any economy.
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