Nestle has pulled its popular KitKat and Nesquick brands from Russia following extreme backlash against the FMCG giant for dragging its feet under pressure to boycott the country.
Over 400 companies have withdrawn from Russia in protest of its Ukraine invasion in the last two months, including Starbucks, McDonald’s, Unilever and Heineken.
Nestle halted sales of its non-essential products including San Pellegrino water and Nespresso capsules earlier in March, however, it refused to pull the remainder of its bestsellers from Russia.
The company suspended its investment in the embattled nation a couple of weeks ago but ignored calls to pull out of Russia entirely.
“We have a responsibility toward our more than 7,000 employees in Russia – most of whom are locals,” Nestle said in a statement.
Ukrainian Prime Minister Denys Shmyhal zeroed in on the company and blasted its reluctance to withdraw from Russia in a tweet.
Nestle has pulled most of its major brands from Russia, and will reportedly continue to sell only essential products such as baby food and medical nutrition.
Nestle’s share price was up 0.4% at 199.2 CHF in morning trading on Thursday following the news.