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Yandex announces management changes

EquityStory.RS, LLC-News: Yandex N.V. / Key word(s): Miscellaneous/Miscellaneous Yandex announces management changes 30.03.2021 / 09:00 MSK The issuer is solely responsible for the content of this announcement. Yandex announces management changes

Moscow and Amsterdam, the Netherlands, March 30, 2021 - Yandex (NASDAQ and MOEX: YNDX), one of Europe's largest internet companies and the leading search and ride-hailing provider in Russia, today announced that Greg Abovsky, Chief Financial Officer (CFO) and Chief Operating Officer (COO), has decided to leave the company effective April 30 to pursue a new opportunity in another geography. Vadim Marchuk has been appointed to serve as acting CFO. COO functions will be divided between members of the management team, including Deputy Chief Executive Officer Tigran Khudaverdyan. 

There is no impact on the company's strategy, previously communicated performance targets or 2021 guidance.

"Greg has played a substantial role in the company's transformation into a diversified digital ecosystem, working alongside the outstanding internally-grown management team that Yandex has developed over the past several years. One of Greg's important achievements was building up an extremely strong team - Vadim and his colleagues all share Greg's intelligence, tenacity and strategic thinking, and are well positioned to continue his work," said Arkady Volozh, Chief Executive Officer of Yandex. "I would like to thank Greg for his significant contributions to Yandex over the past several years and wish him every success in the next phase of his professional journey."

"I am really grateful to Arkady, Tigran and the entire Yandex team for an incredible eight years," said Greg Abovsky, Chief Financial Officer and Chief Operating Officer of Yandex. "I am excited to be taking on a new professional challenge. I have every confidence in Vadim and the rest of the team, and their ability to execute on Yandex's strategy and capitalize on numerous attractive opportunities ahead while maintaining the company's usual prudent approach to capital allocation and financial discipline".