Today, June 3, ArkadyVolozh resigned from the board of directors, the CEO role at Yandex and the manager position for Yandex’s international subsidiaries.
After the European Union placed personal sanctions on him, the founder of Yandex made the decision to leave the company. Volozh controls 45,3 % of Yandex NV’s voting rights and 8 % of Yandex NV’s economic capital through a family trust. He is not a controlling shareholder. Yandex, Yandex’s subsidiaries are exempt from the personal sanctions against Arcadia.
A decision by the commission seems absurd to me. The board of directors can make decisions despite the sanctions. This will ensure that all shareholders are protected. Yokowowi stated that he will continue to support the company’s team.
Yandex shares plunged 12% after Volozhs declared his resignation. Then, they grew by 7%.
The price is correct in the store.