McKinsey Pulls Back from Russia After Staff, Alumni Assailed Firm’s Stance
In a shift, the firm said it will take no new client work in Russia and will stop consulting for state-owned entities there, after a social-media firestorm
McKinsey global managing partner Bob Sternfels
Photographer: Bryan van der Beek/BloombergConsulting giant McKinsey & Co., like numerous other corporations, is withdrawing from Russia after sharp criticism from current and former staff for moving too slowly to cut ties with the country over its invasion of Ukraine.
The counselor to chief executive officers and governments around the world said Thursday it would “immediately cease existing work with state-owned entities” in Russia and not undertake any new client work there. The new policy goes well beyond the stand McKinsey global managing partner Bob Sternfels took Sunday in a LinkedIn post, when he said only that work for government entities would cease, without mentioning companies that are fully or partially state owned.