Milford’s Subway revised its stance on Russia in a new statement this week, promising no new investment or stores in the country.
The company revised an earlier statement on its Russia operations after calls to boycott the sandwich chain for maintaining its brand presence after the invasion of Ukraine. Subway has maintained that its 450 Russian restaurants are all independently owned and operated by local franchisees.
The new statement adds the following sentence: “Subway is committed to not make any direct investments nor open any restaurants in Russia.”
Yale adds grades to Russia list, AstraZeneca flunks
Subway’s new pledge earned it only a D grade on the world-famous list of companies’ actions in the wake of the invasion compiled by Yale professor Jeffrey Sonnenfeld and his team at the Yale Chief Executive Leadership Institute.
Yale’s newly organized list, revised on Tuesday, gives businesses a grade for their level of action on the invasion. Subway earned a D and spot among 54 companies deemed to be “buying time” on action in Russia.
Connecticut companies earning an A grade for “clean break – surgical removal, resection” on Russia include New Britain-based Stanley Black & Decker and Stamford-based WWE.
AstraZeneca, which owns New Haven bioscience leader Alexion, earned an F grade and a spot among 33 global firms accused of “digging in, defying demands for exit or reduction of activities.”
The U.K.-based biotech giant has employees in 57 cities in Russia, including a head office in Moscow and a production site in the Kaluga region, according to the company website.
In a statement issued on March 11, AstraZeneca said it was prioritizing ensuring the safety of its 200 employees in Russia and getting its medicines to people in Ukraine.
“In line with our purpose as a healthcare company, we are doing everything possible to ensure patients can continue to access medicines and that stocks are in place and can be maintained,” the statement read.
Contact Liese Klein at lklein@newhavenbiz.com.