As per reports, Cincinnati, Ohio-based Procter & Gamble Company (PG) to halt all new capital investments in Russia and reduce its portfolio to focus on health, basic hygiene, and personal care items, informed CEO Jon Moeller. P&G is also suspending all media, advertising, and promotional activity, it further informed that its Russian division makes Tide detergent, Pampers diapers, and Gillette razors. Big investors such as New York State’s pension fund are asking companies to consider pausing operations in Russia as Russia invades neighboring Ukraine.
Reportedly, the company has 2,500 direct employees in Russia and 500 in Ukraine. The CEO further informed that the company has “proactively suspended” operations in Ukraine and is providing evacuation support, financial assistance, food, and shelter to help employees.
The Procter & Gamble Company (PG), a Dow 30 component, supplies branded consumer packaged goods to consumers across the globe. To learn more about Procter & Gamble (PG) and to continue to track its progress please visit the Vista Partners Procter & Gamble Coverage Page.
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