The consumer goods group Henkel is now giving up its business in Russia.
The company behind brands like Persil, Schwarzkopf and Fa announced on Tuesday that it had decided to end its operations in the country given the current developments in the Ukraine war.
"The implementation process is now being prepared."
Henkel will work on the details with its teams in Russia to ensure an orderly process, it said.
Meanwhile, Henkel's 2,500 employees in Russia would continue to be employed and paid.
The financial implications of the planned exit for Henkel associated with the decision cannot be further quantified at this point in time.
Henkel had hesitated for a long time before taking this step.
After Russia's attack on Ukraine at the end of February, the group decided to stop all planned investments in Russia and to stop advertising and sponsorship.
However, production there should continue.
At the Annual General Meeting in early April, there was criticism from shareholders who feared damage to Henkel's reputation.
Henkel boss Carsten Knobel had defended the Russia strategy, among other things, that foreign companies could be expropriated by the government in the future and their local managers could be held liable if they went out of business.