German manufacturer Henkel will cease operations in Russia, the company announced on Tuesday.
"Against the background of the current developments of the war in Ukraine, Henkel has decided to exit its business activities in Russia. We will now work closely with our teams in Russia on the details to ensure an orderly process," the company said in a statement.
The Düsseldorf-based company manufactures various consumer goods, such as laundry and cleaning products. Its 2,500 employees in Russia will continue to be employed and paid, Henkel said. The company was not able to provide an outlook on how this will impact the company’s finances.
“Henkel condemns the Russian war against Ukraine and the violence against innocent civilians. Our priority remains to do everything we can to support our colleagues in Ukraine,” said Henkel CEO Carsten Knobel said in a statement.
“We are providing extensive support to our employees and the people in Ukraine and neighboring countries by offering financial donations as well as food and material donations. Many Henkel employees are also helping at the borders by distributing urgently needed goods or offering people from Ukraine a place to stay.”
In March, Henkel announced that it would freeze future investments in Russia and launched a financial aid package for Ukraine, but stopped short of closing down operations altogether.
Ukrainian President Volodymyr Zelensky praised the move in a video address on Tuesday.
“More and more global companies are announcing the shutdown in Russia. Today, the German company Henkel has joined hundreds of other such large companies,” he said.
“I want to emphasize that this is inevitable: any normal business will have to make such a decision and leave Russia. Now the Russian state is at a level where any association with it and any support for it means complicity in mass killings. Complicity in what will be called crimes against humanity and genocide.”
Zelensky has made it a point while speaking in addresses to other nations that more multinational corporations should cease business in Russia due to their invasion of Ukraine.