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Sberbank CEO Gref may leave Yandex Board of Directors on October 29

The decision will be taken by the Yandex shareholders through voting
Sberbank CEO Herman Gref Mikhail Tereshchenko/TASS
Sberbank CEO Herman Gref
© Mikhail Tereshchenko/TASS

MOSCOW, October 13. / TASS /. Sberbank CEO Herman Gref will not be re-elected to Yandex's board of directors at the company's annual general meeting on October 29, the decision will be placed upon a vote to the Yandex shareholders, the company said in a statement on Tuesday.

Also, Yandex shareholders were offered to re-elect the head of the company, Arkady Volozh, to the board of directors as executive director for a period of 4 years, and technical director of Yandex, Mikhail Parakhin, for one year as a non-executive director.

Earlier it was reported that after the Sber and Yandex split, Gref will remain a member of the company's board of directors until the shareholders' meeting, which will elect a new board. In the future, Gref does not expect that he will participate in this collegial management body of the company.

In addition to Volozh, Parakhin and Gref, the current Yandex board of directors includes nine people: Senior Vice President of Human Resources and Member of the Executive Committee of DE Master Blenders Rogier Rijnja, General Partner of Almaz Capital Partners Charles Ryan, ex-Chief of Staff of the President of the Russian Federation Alexander Voloshin, founder of Wellville Esther Dyson, professor of finance at the Graduate School of Business at Stanford University Ilya Strebulaev, president of the private investment company Firehouse Capital Inc. John Boynton, Managing Director of Yandex Tigran Khudaverdyan, General Director of ANO "Russia - a Land of Opportunities" Alexey Komissarov and General Director of VTB Capital Alexey Yakovitsky.