Shulgin Takes over as CEO of Yandex
The ITAR-TASS news agency reports that from Sept. 1, Alexander Shulgin will take over as CEO of Russian Internet giant Yandex, citing company sources. Shulgin is moving from a position as CFO within the company
Aug 27, 2014
Shulgin replaces outgoing CEO Arkady Volozh, who will continue to lead the Yandex group of companies.
"In handing this job [to Shulgin], I can now concentrate on strategic tasks, including a search for new business models, new markets and new applications for our technology," said Volozh.
Replacing Shulgin as CFO is Greg Abovsky, currently the Vice President of Investor Relations and Corporate Development at Yandex.
Shares of the Internet companies in the course of trading on the Moscow Stock Exchange did not respond to the announcement. Securities traded in Moscow at 1053.1 rubles ($29.14) per share (up 0.3 percent), despite the fact that MICEX and RTS indices rose around 0.5 percent.
Yandex owns Russia’s most popular search engine and web portal. The company’s share of the Russian search market in the first quarter of 2014 amounted to an average of 61.9 percent, according to data from LiveInternet. Capitalization of the company is $9.25 billion (NASDAQ).
"In handing this job [to Shulgin], I can now concentrate on strategic tasks, including a search for new business models, new markets and new applications for our technology," said Volozh.
Replacing Shulgin as CFO is Greg Abovsky, currently the Vice President of Investor Relations and Corporate Development at Yandex.
Shares of the Internet companies in the course of trading on the Moscow Stock Exchange did not respond to the announcement. Securities traded in Moscow at 1053.1 rubles ($29.14) per share (up 0.3 percent), despite the fact that MICEX and RTS indices rose around 0.5 percent.
Yandex owns Russia’s most popular search engine and web portal. The company’s share of the Russian search market in the first quarter of 2014 amounted to an average of 61.9 percent, according to data from LiveInternet. Capitalization of the company is $9.25 billion (NASDAQ).