The Board of Directors of Yandex issued a statement regarding the inclusion of the founder of the company, Arkady Volozh, in the sanctions list of the European Union.
The company called the decision to impose sanctions on Volozh “completely unfair and based on an inaccurate understanding of Arcadia and what Yandex is.”
The statement notes that Volozh built from scratch one of the most independent, modern and progressive companies not only in Russia but throughout Europe, which is a “true pioneer” in many high-tech areas. For this he should have been praised, not sanctioned.
Yandex also reported that Volozh intends to try to challenge the decision of the European Union to include him in the sanctions list.
Recall that Arkady Volozh, in connection with his inclusion in the sanctions list, resigned as CEO of the Yandex group of companies and left its board of directors.
The fact that Volozh was removed from the management of Yandex was reported by the company half an hour after it became known that European sanctions were imposed on him. In addition to the position of CEO and a seat on the board of directors, he also vacated senior positions in the “subsidiaries” of the international companies of “Yandex”.
The founder of the Russian IT giant himself said that the decision was in the interests of the company and its shareholders, and promised to help the Yandex team wherever possible.
Against the background of information about the inclusion of Volozh in the sanctions list, Yandex shares fell on the stock exchange by more than 10%.
