De-Arching: McDonald's to sell Russia business, exit country

French carmaker Renault said Monday that it would sell its majority stake in Russian car company Avtovaz and a factory in Moscow to the state — the first major nationalization of a foreign business since the war began.Maxim Sytch, a professor of management and organizations at the University of Michigan's Ross School of Business, said McDonald's and others also face pressure from customers, employees and investors over their Russian operations.

Now, the company's exit is proving symbolic of a new era, analysts say. Sytch, who lived in Russia when McDonald's entered the market and remembers the excitement surrounding the opening, said the closing signifies a reversal to the Soviet era of isolation.“It’s really painful to see the many years of gains on the democratic front being wiped out with this atrocious war in Ukraine," he said.

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