Russia's Kudrin Accepts Role as Adviser to Tech Giant Yandex

Russia's Kudrin Accepts Role as Adviser to Tech Giant Yandex
Photo: https://www.searchenginejournal.com/yandex-warns-debts-may-have-material-adverse-impact/440957/#close 05.12.2022 130

Former Chairman of Russia’s Audit Chamber Alexei Kudrin accepted Yandex's offer to become a corporate development advisor. He announced this in his Telegram channel.

"I accepted Yandex's offer to become an adviser on corporate development. Together with the management I will develop the corporate structure of the new holding company, which will ensure the long-term and sustainable development in all markets, including international ones," 

he wrote.

According to him, one of the main tasks is to help preserve Yandex's "unique management and technological culture."

Kudrin headed the Audit Chamber, Russia’s public spending watchdog, for 4.5 years, he was appointed to the post by Russian President Vladimir Putin. Kudrin's term was set to expire in 2024. Last week, on November 30, the Federation Council dismissed him from his post early. According to Kudrin, after 25 years in the public sector, he wants to get involved in big projects that "have a significant effect on people." 

On November 25, Yandex announced plans to separate the group's assets. Some of the businesses, including autonomous cars, cloud technology, etc., will continue to operate in Russia, but their international parts will be spun off into separate companies under the company's management in the Netherlands.

On November 23, The Bell, citing sources, reported that Yandex may have a new parent company. For making key decisions in it will be responsible for a specially created structure which will include the current top management of Yandex, and it will be headed by Kudrin. 

Earlier Russian Forbes wrote that Yandex cofounder Arkady Volozh offered Kudrin 5% of the IT-company if he helped him divide Russian and international assets. According to The Bell, Volozh intends to develop a number of the company's projects abroad, including the development of drones, the Yandex Cloud and the Yandex.Praktikum educational service. At the same time, the services will continue to operate in Russia. 

Source: Vedomosti

digital markets  Russia 

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