- On April 19, Henkel said it had decided to abandon its business in Russia in the light of the crisis in Ukraine
According to TASS, Russia's state-owned news agency article published on November 9, 2022, Henkel is going to completely pull its business out of Russia by New Year’s at the earliest, Chief Financial Officer of the German chemicals producer Marco Swoboda said at a teleconference on Tuesday.
"I was informed that we have begun a structured process to ceaseour businesses, and so we have made good progress in that process," the corporate executive said. "We are still striving to close this process by the end of the year," Swoboda noted. "The uncertainty that still arises in terms of timing is also related to the complex aspects of regulation," the CFO stated.
On April 19, Henkel said it had decided to abandon its business in Russia in the light of the crisis in Ukraine. The company manufactures gluing materials, detergents, cosmetics and personal care items at 11 plants throughout Russia. Early in March, Henkel halted investments, advertising and sponsorship events in Russia.
