Co-founder of IT company Yandex resigned from position of CEO due to sanctions
2022.12.30 06:43
Co-founder of IT company Yandex resigned from position of CEO due to sanctions
Budrigannews.com – The co-founder of the internet powerhouse Yandex in Russia (NASDAQ:), In an internal message to employees on Friday, Arkady Volozh said his goodbyes ahead of a corporate restructuring that could see ownership of many of the company’s core services shift.
After the European Union included Volozh on its list of sanctions against Russian companies and individuals in June, he resigned as CEO and left the board of directors. The EU’s decision, Volozh said, was “misguided.”
In the message that was seen by Reuters, Volozh stated, “As you know, I haven’t really been involved in Yandex’s Russian business for some time, but this year I had to step down from the company completely.”
“With everything occurring throughout the course of recent months, I understand that I never bid farewell. He stated, “The New Year is the ideal occasion to rectify that.”
“Yandex was a truly mind-blowing task for me, and not just for me,” he said. ” “Thank you to everyone who contributed to the establishment of the nation’s best technology company.”
Last month, Yandex’s Dutch-registered holding company announced that it would sell most of Yandex Group, including its main revenue-generating businesses. This could strengthen Kremlin control over some of Russia’s essential internet services.
The cloud computing, data labeling, and education technology divisions of Yandex’s self-driving technologies would then be developed independently of Russia.
Volozh stated, “It is my hope to be able to advise the four international start-ups, which may develop independently from Yandex in the future.”
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