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Yandex CEO and founder resigns following sanctions

Arkady Volozh, Yandex’s CEO and govt director, resigned from his pronounce, the corporate announced this day.

The European Union imposed sanctions on Volozh in my conception. Yandex has not been sanctioned by the EU, U.S., or UK. Volozh had a 45.3% balloting and eight.6% economic ardour in Yandex.

Why we care. Yandex will likely be idea to be Russia’s Google, regardless that Yandex pre-dates Google (Yandex launched in 1997). Yandex’s share of the Russian search market is estimated to be at 48%, in the support of Google’s 49%, in response to StatCounter – but Yandex says it owns 61% of the hunt market. So this pattern, as neatly as others below, suggest it’s worth protecting an be taught about on the pronounce of the corporate whenever you happen to work on any sites that depend upon Yandex natural traffic.

What Volozh said. “While I take into accout of this decision to be mistaken and come what would possibly counterproductive, I compose not intend to present any instructions to my household belief as prolonged as sanctions are in pronounce. For the period of this time the belief will vote constant with the ideas of the Board. While I will proceed to enhance the crew wherever doable, this decision is in the categorical interests of the corporate and its stakeholders.”

Trot deeper. On March 22, Wired printed Is Russia’s Largest Tech Company Too Colossal to Fail? The article limited print how the whole lot Volzh helped build over 20 years began crumbling in 20 days.

Timeline of Yandex turmoil. Right here are some foremost Yandex tales since Russia’s invasion of Ukraine on Feb. 24:

  • Feb. 28: Nasdaq suspended buying and selling of Yandex shares. (Nasdaq)
  • March 3: “We assume that our contemporary details center ability and varied technology famous to operations will enable us to proceed to purpose in the regular direction for at the very least the next 12 to 18 months. In the tournament of any prolonged suspension of provides of hardware, utility or varied technology susceptible in our industry or offerings, if we’re unable to rep different sources, our operations could very neatly be materially adversely affected over time.” (Yandex)
  • March 7: Esther Dyson and Ilya Strebulaev resigned from Yandex’s board of directors (Yandex).
  • March 15: Yandex Deputy CEO and Govt Director Tigran Khudaverdyan, who had been sanctioned earlier in the week, resigned. (Yandex)
  • March 16: Yandex rumored to be in negotiations to promote its media division (news and Zen). (TechCrunch)
  • April 27: Yandex’s Q1 financials were launched. Yandex reported an adjusted rep lack of 8.1 billion roubles ($110 million). The corporate said it experienced continued stable operations and solid enhance across most of its companies till Feb. 23. (Reuters)
  • April 28: Yandex announced the sale of news and Zen to VK. (Yandex)
  • Would possibly per chance 18: It used to be reported that Yandex used to be exploring selling search and mail and involving its headquarters to Israel. (Records Center Dynamics

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