**Smokescreens and diversionary delays are some of the tactics being used by companies that are lying about leaving the Russian market.**
Well over 1,000 companies have withdrawn from Russia, albeit to varying degrees, since the outbreak of the Ukraine invasion. However, some 200 foreign businesses have done absolutely nothing, according to the authoritative list of businesses leaving Russia (or not) compiled by the Yale School of Management.
The university’s research is led by Professor Jeffrey A Sonnenfeld, under whom a team of 42 researchers (speaking 12 languages) continue to track whether or not companies make good on their pledges to leave Russia.
After four months of ongoing research, Sonnenfeld writes that, on the one hand, companies have shown how quickly they can take political action and divest from Russia, both for ethical and business reasons. On the other, it has shown the very opposite. “Yawning gaps in global governance” have been revealed, alongside “massive gaps in management’s ability to decide on and take appropriate action regarding doing business with and in Russia, as well as boards’ abilities to provide effective oversight of those actions,” says Sonnenfeld.
**All manner of excuses**
Yale contends that companies are using “diversionary delays” to avoid actual withdrawal from Russia. Committing, therefore, to a clearly articulated course of action is the solution.
“Indefinite, insincere ‘reviews’ and ‘evaluations’ do not help [a] company,” says Sonnenfeld. “It is also obvious to investors, consumers and media that these are nothing more than stalling techniques.”
For example, a huge US paper company claimed to have only a passive interest in a Russian partner company in Russia when, in fact, it owned 50% of the business, with nearly half the partnership’s operational oversight board made up of its own company executives.
The multimillionaire and billionaires can never make enough money and do not care where the money they get comes from. It all comes down to their bottom line. No ethics. No morals. Just money and power
This is a time when naming names would be appropriate.
4 comments
1
**Smokescreens and diversionary delays are some of the tactics being used by companies that are lying about leaving the Russian market.**
Well over 1,000 companies have withdrawn from Russia, albeit to varying degrees, since the outbreak of the Ukraine invasion. However, some 200 foreign businesses have done absolutely nothing, according to the authoritative list of businesses leaving Russia (or not) compiled by the Yale School of Management.
The university’s research is led by Professor Jeffrey A Sonnenfeld, under whom a team of 42 researchers (speaking 12 languages) continue to track whether or not companies make good on their pledges to leave Russia.
After four months of ongoing research, Sonnenfeld writes that, on the one hand, companies have shown how quickly they can take political action and divest from Russia, both for ethical and business reasons. On the other, it has shown the very opposite. “Yawning gaps in global governance” have been revealed, alongside “massive gaps in management’s ability to decide on and take appropriate action regarding doing business with and in Russia, as well as boards’ abilities to provide effective oversight of those actions,” says Sonnenfeld.
**All manner of excuses**
Yale contends that companies are using “diversionary delays” to avoid actual withdrawal from Russia. Committing, therefore, to a clearly articulated course of action is the solution.
“Indefinite, insincere ‘reviews’ and ‘evaluations’ do not help [a] company,” says Sonnenfeld. “It is also obvious to investors, consumers and media that these are nothing more than stalling techniques.”
For example, a huge US paper company claimed to have only a passive interest in a Russian partner company in Russia when, in fact, it owned 50% of the business, with nearly half the partnership’s operational oversight board made up of its own company executives.
The multimillionaire and billionaires can never make enough money and do not care where the money they get comes from. It all comes down to their bottom line. No ethics. No morals. Just money and power
This is a time when naming names would be appropriate.
Subway is still doing business in Russia.