Yale Prof's Russia List Prompts Calls From CEOs

Multinational companies have taken extraordinary measures to express disapproval of Putin's war. They risk untold billions in lost revenue and hard assets, but money isn’t everything. "CEOs need peer approval," Yale professor Jeffrey Sonnenfeld tells the Washington Post. Sonnenfeld is not alone in pressing for bold action, but his "naughty list or nice list," as the Post puts it, has very likely proved a catalyst in boardroom discussions. Posted on Yale’s website and updated regularly, the list shows exactly what actions companies are taking in Russia and how much they risk. And Sonnenfeld said it has spurred phone calls from CEOs asking "why we didn’t have them on the right list, and what they needed to do to either clarify or actually take a more strong stance."

Sonnenfeld has made such lists before over topics like gun safety, but never for an issue on which 75% of Americans agree: Morning Consult polling in late February found three in four Americans supported companies cutting business ties with Russia. Those wary of that move often cite "jobs," saying ordinary Russians don’t deserve to suffer. Sonnenfeld’s reply is blunt, per CNBC: "We're not trying to figure out how to advance the Russian economy ... it is for the general population to feel enough distress that the economy fails and the government fails." As of Thursday, more than 330 companies have pulled out, per Sonnenfeld's list.

Some companies are taking stronger positions than others, per the list. Global automakers have suspended most if not all operations, as have IKEA, Nike, TikTok, and scores of other big brands. UPS, FedEx, and DHL halted all shipments (making it easy for eBay and others to do the same). By contrast, Disney and Paramount Studios will "pause new content releases," and Procter & Gamble will "suspend new investment and advertising." Among those companies who remain in Russia with "significant exposure" as of this writing, per the list: Cargill, Citi, Dunkin Donuts, Marriott, Mondelez, and Subway. (More jeffrey sonnenfeld stories.)