Arkady Volozh, founder of Russia’s tech giant Yandex, to leave company

Founder of Yandex Arkady Volozh has informed employees about his plans to leave the company, Russia’s state news agency TASS reports.

“I haven’t managed the Russian [branch of] Yandex for a long time now; this year, I even had to resign from all positions in the company. The board and management are currently developing a plan to restructure the company — in present conditions, I think that it is a very wise and necessary [move]. I still have an interest in helping by advising the four international startups that can continue developing outside of the Yandex holding,” The Bell media outlet quotes Volozh’s words.

The founder noted that Yandex is his life’s project. He thanked the company’s employees for “having built and continuing to build the best tech company in the country”.

In June, the European Union imposed individual sanctions against Volozh. Afterwards, Yandex announced that Arkady Volozh had resigned as CEO of the company and left its board of directors. He also stepped down from his board and executive positions with Yandex international subsidiaries.

In July, The Bell reported, citing its sources, that Yandex founder Arkady Volozh might trade control of the Russian branch of the company for gaining the right to continue developing some of the company’s projects abroad.

The projects, according to The Bell, could include drones, cloud services, and Yandex.Practicum. The complete list has not been compiled yet.

In November, it was reported by The Bell that Alexey Kurdin, former Chairman of the Accounts Chamber, would be in charge of a new management structure in the company, after Kudrin and Vladimir Putin had agreed on a scheme for dividing Yandex’ assets.

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