Hyve is exiting the Russian market. The company states that this is in consequence of the invasion of Ukraine.
Mark Shashoua, CEO, on behalf of the board of directors of Hyve Group plc, states: "Our primary focus throughout has, like many, been the safety and welfare of our people. We care deeply about our 87 colleagues in Ukraine and have been in constant communication with them while supporting them and their families in any way we can, including through financial and relocation assistance. But we also care about our 206 colleagues in Russia who have played a significant role in our business. The invasion of Ukraine is not their fault, and we have been determined to find an outcome which offers stability for them as quickly as possible. However, as the situation worsens, we must act."
„Our focus remains on continuing to support our people.“
Stock market and shareholders have been informed that Hyve is to formally exit the Russian market. "Our focus now remains on continuing to support our people and exploring how we can leverage the visa scheme recently announced by the UK government to offer employment to Ukrainian refugees entering the UK. We have continued to support humanitarian efforts and will fund-match anything raised by the Hyve team", Shashoua concludes.