Yandex Announces the Appointment of Tigran Khudaverdyan as Deputy CEO
May 22 2019 - 4:39PM
Yandex (NASDAQ: YNDX), one of Europe's largest internet companies
and the leading search provider in Russia, today announced the
appointment of Tigran Khudaverdyan to the newly created position of
Deputy Chief Executive Officer of the Yandex group.
Arkady Volozh will continue to serve as CEO, as he has done
since the Company’s formation, while Greg Abovsky will continue to
serve as Chief Operating and Financial Officer. He will also
continue to be responsible for the development of several business
units and experiments.
Tigran Khudaverdyan joined Yandex in April 2006, and since then
has led several successful Yandex projects, including
Yandex.Browser and Yandex.Navigator. He moved to the Yandex.Taxi
business in 2015, and has served as Chief Executive Officer of MLU
B.V., our ride-hailing and food delivery joint venture with Uber,
since its formation.
“I’m very excited to work with Tigran in his new role,”
commented Arkady Volozh, Chief Executive Officer of Yandex N.V.
“Tigran has spent much of his career with Yandex, knows the
business inside and out, and is highly regarded by the entire
Yandex team. With him focusing on day-to-day management in the new
Deputy CEO position, I will be able to focus on broader strategic
opportunities.”
“We are delighted to see Tigran assume the role of Deputy CEO,”
said John Boynton, Chairman of the Board of Yandex N.V.
“Tigran has held a variety of roles at Yandex over the years,
most recently overseeing the rapid growth of the Yandex.Taxi
business.”
Daniil Shuleyko has been promoted to the position of Chief
Executive Officer of MLU. Daniil has been with Yandex since
February 2015 when he joined the Taxi division. Since January
2018 he has served as Chief Operating Officer of MLU.
“I am glad that Daniil is taking the wheel of the Taxi
business,” said Mr. Volozh. “Daniil is a successful entrepreneur
who launched the first food delivery service in Moscow, and he has
proven himself in the COO role at MLU. He is well positioned to
lead MLU as it pursues an ambitious growth plan.”
Yandex also announced that Mikhail Parakhin, Chief Technology
Officer of the Yandex group, has decided to return to the US West
Coast following his family after a tremendous 5-year run with
Yandex. Mikhail will continue to advise the Company and the
Board.
“We thank Misha for his huge technical and management
contributions to the business,” said Mr. Boynton. “We are very
pleased that he will stay on as a consultant, enabling the Board
and management team to benefit from his experience and vision.”
“We are fortunate that we have established such incredible depth
of talent within the company, developing the next generation of
leadership internally,” Mr. Boynton continued. “These changes
will further strengthen the group’s management team in this
fast-moving and complex environment. They are also important to our
longer-term succession planning and continual effort to provide
strong governance as we steward the long-term interests of the
Company and all of its stakeholders.”
ABOUT YANDEX
Yandex (NASDAQ:YNDX) is a technology company that builds
intelligent products and services powered by machine learning. Our
goal is to help consumers and businesses better navigate the online
and offline world. Since 1997, we have delivered world-class,
locally relevant search and information services. Additionally, we
have developed market-leading on-demand transportation services,
navigation products, and other mobile applications for millions of
consumers across the globe. Yandex, which has 34 offices worldwide,
has been listed on the NASDAQ since 2011. More information on
Yandex can be found at https://yandex.com/company.
FORWARD-LOOKING STATEMENTSThis press release contains
forward-looking statements that involve risks and uncertainties.
These include statements regarding our management and future
prospects for success. Actual results may differ materially
from the results predicted or implied by such statements. The
potential risks and uncertainties that could cause actual results
to differ from the results predicted or implied by such statements
include, among others, macroeconomic and geopolitical developments
affecting the Russian economy or our business, changes in the
political, legal and/or regulatory environment, challenges inherent
in management changes and reorganizations, competitive pressures,
changes in advertising patterns, changes in user preferences,
technological developments, and our need to expend capital to
accommodate the growth of the business, as well as those risks and
uncertainties included under the captions “Risk Factors” and
“Operating and Financial Review and Prospects” in our Annual Report
on Form 20-F for the year ended December 31, 2018, which is on file
with the U.S. Securities and Exchange Commission (SEC) and is
available on our investor relations website at
http://ir.yandex.com/sec.cfm and on the SEC website at www.sec.gov.
All information in this release and in the attachments is as of May
22, 2019, and Yandex undertakes no duty to update this information
unless required by law.
Contacts:
Investor RelationsKatya ZhukovaPhone: +7 495
974-35-38E-mail: askIR@yandex-team.ru
Media RelationsIlya GrabovskiyPhone: +7 495
739-70-00E-mail: pr@yandex-team.ru
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