- The co-founder of the Russian internet giant Yandex NV YNDXArkady Volozh, farewell to his employees before a corporate restructuring.
- The reorganization could result in many of the company’s core services changing hands, Reuters reports.
- Volozh resigned as CEO and left the board after the European Union accepted him onto their board Sanctions against Russian companies and individuals in June.
- Volozh called the EU’s decision “misguided”.
- “As you know, I haven’t been really involved in Yandex’s Russian business for a while, but this year I had to withdraw from the company entirely,” Wolozh is quoted as saying in the report.
- In November, Yandex’s Dutch-registered holding company announced plans to divest ownership and control of most of the Yandex Group, including its main revenue-generating businesses.
- The report also noted that the international divisions of Yandex’s self-driving technologies, cloud computing, data labeling and edtech are being developed independently of Russia.
- “I hope to advise the four international startups that may develop independently of Yandex in the future,” Volozh said.
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