Yale List of Companies Departing Russia Quickly Becomes Authoritative Source

It is now known simply as “the list.” 

It is updated continuously by Jeffrey Sonnenfeld, professor of management and associate dean at the Yale School of Management, and his research team at the Yale Chief Executive Leadership Institute.  It reflects the up-to-date status of companies that have “announced their withdrawal” from Russia since that nation’s invasion of neighboring Ukraine nearly three weeks ago.

The list of companies bowing out in one way or another began with a few dozen just days after the invasion and now includes nearly 400.  And it is the go-to list for media, investors, and individuals interested in the corporate response to the war in Ukraine.  CT by the Numbers is among the media outlets featuring a link to the list, which continues to draw international interest and attention. New Britain-based Stanley Black & Decker is among the companies that have “suspended operations in Russia,” according to the list.

The website on which the list it appears is updated regularly, noting that “Hundreds of companies have withdrawn … in a mass corporate exodus from Russia, and we are humbled that our list helped catalyze millions around the world to raise awareness and take action.”  Alongside the list of companies departing Russia, is a list of those still conducting business there.  That list includes fewer than 50 companies.  Of particular interest in Connecticut, it includes Subway, which as its world headquarters in Milford.

Driven by the intense interest in the site as the authoritative source for information on the subject, officials at Yale are looking to do more.  “Based on the outpouring of support and feedback we've received,” the website indicated this week, “we are currently building a detailed version of the list breaking down different levels of corporate disengagement from Russia. This list will be released shortly.”

Subway issued a statement last week, which began by emphasizing that “Our thoughts are with the people of Ukraine, and we are committed to supporting those impacted by the tragic events in the region.” It went on to point out that “Subway has no corporate operations in Russia. Our approximately 450 restaurants in Russia are all independently owned and operated by local franchisees and managed by an independent master franchisee. We don’t directly control these independent franchisees and their restaurants, and have limited insight into their day-to-day operations.”

The company went on to say that “While we do not control or manage the operations of independent franchisees in Russia, we will redirect any profits from operations in Russia to humanitarian efforts supporting Ukrainians who have been affected by the war. We are also working with our franchisees across Europe to provide meals to refugees.”