Procter & Gamble Co (PG.N) is ending all new capital investments in Russia and "significantly reducing" its portfolio to focus on basic hygiene, health and personal care items, CEO Jon Moeller said in a letter to employees posted on its website on Monday, Report informs, referring to Reuters.
Cincinnati, Ohio-based P&G is also suspending all media, advertising and promotional activity, Moeller said in the post. The company said on its website that its Russian division makes Tide detergent, Pampers diapers and Gillette razors.