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Top Russian official to join tech giant

Added 11-25-22 12:37:04pm EST - “Russian tech giant Yandex says it may soon carry out a major restructuring and divide the company into two parts” - Rt.com

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Posted By TheNewsCommenter: From Rt.com: “Top Russian official to join tech giant”. Below is an excerpt from the article.

Russia’s top tech giant, Yandex, may soon carry out a corporate restructuring and split its domestic and international businesses, the company announced on Friday. It also revealed that Alexey Kudrin, Russia’s former finance minister and presidential adviser, will join the company’s top management team.

Its parent company in the Netherlands will soon withdraw from the shareholders and change its name, while control over the Russian part of the business will be transferred to local management.

Aleksey Kudrin, a longtime ally of Russian President Vladimir Putin and the current head of the Audit Chamber, is expected to take a leading position in the company by the end of the year.

According to some media reports, Yandex N.V. announced on Friday that its board members had formed a “special committee” to explore the sale of Russian products and the spin-off of its other divisions.

“Yandex N.V. is considering the possibility of splitting the main part of the business, including a number of international business areas, into a separate group of companies that will retain the Yandex brand,” the company said in a statement.

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