The New York State Comptroller's office helps guide a $280 billion fund that has an estimated $110.8 million in public equity investments, including direct holdings and co-mingled funds in Russian companies.
and 108 locations in Ukraine. The company owns 84% of its Russia locations and 100% of its Ukraine locations. Russia and Ukraine combined represented approximately 2% of the company's system-wide sales, roughly 9% of its revenue and less than 3% of its operating income in 2021.
"Companies like McDonald’s and PepsiCo, which have a large footprint in Russia, need to consider whether doing business in Russia is worth the risk during this extraordinarily volatile time," DiNapoli told FOX Business in a statement. "Russia's unprovoked invasion of Ukraine and its highly unpredictable foreign policy are a threat to the global economy.
In addition to McDonald's and PepsiCo, letters have been sent to Estee Lauder, Mondelez International, Fortinet Inc, Kimberly-Clark Corp., Bunge Limited, Coty Inc., Alnylam Pharmaceuticals and Trimble Inc. A spokesperson for the comptroller's office told FOX Business that it has not heard back from any of the companies as of the time of publication.
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