Yandex, the leading search provider in Russia, has announced a reshuffle in its senior management team, with Alexander Shulgin, who until now used to be the group’s Chief Financial Officer, appointed Chief Operating Officer of Yandex’s Russian business.
According to the official statement, the change will take effect September 1, with Greg Abovsky to be promoted to Chief Financial Officer to replace Mr. Shulgin.
Arkady Volozh will remain the Chief Executive Officer of Yandex N.V., the holding company managing the entire Yandex Group, says the press release.
“In Russia, Yandex is a large, successful business,” Arkady Volozh was quoted by the company’s website as saying. “Managing a company of this scale demands a lot of time and energy. 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 energies on broader strategic initiatives, including expansion into new business models and markets and developing new areas to apply our technologies.”
According to the profile provided in the press release, Alexander Shulgin joined Yandex in 2010 in the position of Chief Financial Officer, leading the effort on Yandex’s IPO 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 Chief Financial Officer of Coca-Cola Hellenic Russia in 2007. He has a degree in management from Rostov-on-Don State University.
Yandex (Nasdaq:YNDX) is one of the largest European internet companies, providing a wide variety of search and other online services. Yandex's mission is to help users solve their everyday problems by building people-centric products and services. Based on innovative technologies, the company provides the most relevant, locally tailored experience on all digital platforms and devices. Yandex operates Russia's most popular search engine and also serves Ukraine, Belarus, Kazakhstan and Turkey.
Author: Mikhail Vesely