Dozens of countries have moved out of Russia and made public statements condemning Putin's attacks. Here's what's happening inside companies.
The corporate response to the war in Ukraine has been swift and self-perpetuating. Hundreds of companies have cut ties to Russia, hoping to pressure its political leader to back down. Seemingly every new company that joins the boycott gives another CEO the courage to do the same.
Why are companies as varied as big banks, tech giants, and fast food outlets like McDonald’s leaving Russia despite the financial losses, often after decades of investing in the country? And even when some argue that leaving Russia only punishes everyday Russians, rather than its political leaders?
Partly, they’re reacting to public opinion. But also, as New York Times journalist Peter Coy notes, CEOs are human, too, and “they’re as appalled as everyone else by the death and destruction that Putin is visiting on Ukraine.”
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