Unilever left Russia in order not to lose control of the business

November 27th. /MEDIA TALK/. The CEO of Unilever Plc, Hein Schumacher, announced the reasons for leaving Russia. He said this in an interview with Bloomberg Television. Recall that the company sold the business in October 2024 to the Arnest group. According to the manager, the company's management was losing control of the business due to Western sanctions against Russia. There were serious difficulties in transferring funds between countries, it became problematic to analyze the results of work and influence brand management. "I did not see the possibility in the near future that we would regain this control, and this influenced the decision to leave," Schumacher said.


Photo: ru.freepik.com

The sale of the company was closed in October 2024. The net assets of the business amounted to $629 million, these are four factories employing about 3,000 employees. According to Schumacher, Russia's demands on Western companies have become seriously tougher. For example, to withdraw profits from the country, you need to obtain a permit, which is not so easy to achieve.

We told you more about the deal for the sale of Unilever's Russian business here.