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Yandex appoints CFO Shulgin in charge of Russian business

August 25, 2014, 13:34 UTC+3 MOSCOW
Alexander Shulgin joined Yandex in 2010 as CFO, leading Yandex’s initial public offering on the NASDAQ Global Select Market in 2011
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© ITAR-TASS/Pavel Golovkin

MOSCOW, August 25./ITAR-TASS/. Yandex, a leading Russian search provider and one of the largest European Internet companies, has appointed Alexander Shulgin, currently the group’s chief financial officer (CFO), as the chief operating officer of Yandex’s Russian business from September 1, Yandex said Monday in a press release.

Shulgin will be the principal executive in charge of operations of Yandex’s Russian business.

Greg Abovsky will be promoted to the CFO position to replace Shulgin from September 1.

Arkady Volozh will remain CEO of Yandex NV, the holding company managing the entire Yandex Group, with overall responsibility for the development of Yandex products both in Russia and abroad.

“I’m delighted that Alexander Shulgin will be assuming this responsibility. He is ideally positioned to take on the role of an operational executive for Yandex’s Russian business. His promotion will allow me to focus my energy on broader strategic initiatives, including expansion into new business models and markets and developing new areas to apply our technologies,” Volozh said, as cited in the statement.

Shulgin joined Yandex in 2010 as CFO, leading Yandex’s initial public offering on the NASDAQ Global Select Market in 2011. Before joining Yandex, he spent 10 years working in various financial positions with Coca-Cola Hellenic, becoming CFO of Coca-Cola Hellenic Russia in 2007.

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