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Yandex general director steps down

According to the statement, the company’s CFO Greg Abovsky is to take over

MOSCOW, November 22. /TASS/. Chief Operating Officer of the Yandex internet company Alexander Shulgin is leaving the company, the company said in a statement.

According to the statement, the company’s CFO Greg Abovsky is to take over Shulgin as Chief Operating Officer from December 1, 2017. He will also continue acting in his current role.

"Arkady Volozh will remain the head of the Yandex group of companies," according to the statement.

Shulgin began to work for Yandex in 2010 as a financial officer. He was appointed the company’s Chief Operating Officer on September 1, 2014 and was in charge of the management of the company’s business in Russia.

"I am extremely grateful to Alexander Shulgin for his leadership and major contributions to Yandex. Alexander initiated a series of structural changes that positioned Yandex for long-term growth and success. Yandex.Market, and Yandex.Taxi attained their current leading positions because of the business unitization efforts which Alexander initiated, and there are many more promising experiments in the pipeline," Arkady Volozh said as quoted by the statement.

"Greg Abovsky shares Yandex core values and a vision for growing the Yandex ecosystem. Over the last five years, he has worked closely with Alexander and I am confident that he is best positioned to take Yandex forward," Volozh said.

A spokesman with Yandex told TASs that Shilgin "decided to try his hand in something else, in projects as challenging and interesting (as it was in Yandex) but in new areas."

"He has been working for Yandex for a long time, he led the company to IPO, he was always more than a manager, " the spokesman said.

Greg Abovsky joined Yandex as its Vice President of Investor Relations and Corporate Development in 2013. He was appointed Chief Financial Officer in 2014, and, for the past few years, he has been focusing on the company’s operations, as well as contributing to the development of its services. Greg has over 14 years of experience in a variety of finance and investment senior management roles in the media and technology sectors. He holds a B.A. in Business Economics and Russian Literature from Brown University and an M.B.A. with High Distinction from Harvard Business School.

Yandex is a Russian IT company with 17 offices worldwide. The company been listed on the NASDAQ since 2011.