After Russia launched an invasion of Ukraine, huge sanctions were imposed on technology companies from both the EU and other countries. YandexAlthough not subject to EU sanctions, it was heavily affected by the departure of its partners. According to the latest statement from the company, Arkady Volozh as CEO resigned from his job.
Yandex CEO resigns after EU sanctions
Russia’s largest company Yandex continues to make radical changes in its operations. Yandex, which previously sold its services, News and Zen, to another Russian company, is now experiencing resignations from its board of directors.
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Arkady Volozh, one of the founding partners of the company founded in 1997, on the grounds that he provided financial and informational aid to the Russian government. Blacklisted by the EU receipt. Volozh, who has been CEO of Yandex since 2000, said that this decision taken by Western countries was “applied to the wrong person”.
Does not directly affect Yandex company EU sanctionsled to Volozh transferring his voting rights to the board of directors. In the statement from the Russian company regarding the resignation, it was noted that there would be no changes in the board of directors:
“The Board of Directors continues to operate normally. Yandex has a strong and deep management team that is well positioned to take the company to new heights with continued support from the Board.”
Arkady Volozh, who has been on the board of the company since 1997 and is one of the biggest technology investors in Russia, did not share his new plans. Yandex also noted that Volozh’s departure will not affect its financial or operating activities. expressed.
The Ukraine crisis, which started on February 24, started to put the technology companies in Russia into trouble. Earlier Signed with VK for News and Zen announcing Yandex, Western sanctions made remarkable changes afterwards.
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