Diageo has announced it will wind down its Russian business operations over the next six months, with plans to fully withdraw by the end of the year, according to Reuters.
In March, the drinks giant suspended all exports of its products to Russia as well as the manufacturing of its beers, which are brewed locally under license by third parties.
“Our focus will remain on supporting our employees in the region and providing them with enhanced redundancy terms, while ensuring we comply with local regulations,” a Diageo spokesperson said in a statement to Reuters.
Western companies looking to exit Russia amidst the ongoing Russian-Ukraine conflict face the prospect of a new bill being passed that will allow Moscow to seize assets and impose criminal penalties against businesses, encouraging companies to accelerate their withdrawal from the country.
by Reuters
Source: foodbev.com
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
