In advance of a corporate restructuring that may see ownership of many of the company’s core services change hands, Arkady Volozh, the co-founder of Russian internet giant Yandex (YNDX.O), bid farewell in an internal message to staff on Friday.
Following his inclusion on the European Union’s list of sanctions against Russian organizations and people in June, Volozh resigned from his position as CEO and the board of directors. Volozh referred to the EU’s choice as “misguided.”
Yandex frequently referred to as “Russia’s Google,” has worked to strike a balance between the Kremlin and its Western investors. This year, it attempted to depoliticize its business in part by selling its news feed and homepage to state-controlled rival VK, according to a source close to Yandex.
Volozh wrote in the message, which was obtained by Reuters, “As you know, I haven’t really been involved in Yandex’s Russian business for a while, but this year I had to completely step down from the company.”
“After everything that has happened over the past few months, I realize that I never bid you farewell. He believes that the New Year is the ideal time to address this.
For him and other people, “Yandex was the project of a lifetime,” he said. Thank you to everyone who contributed to creating the best technology company in the nation.
Yandex opted not to respond.
Last month, Yandex’s Dutch-registered holding company announced its intention to give up ownership and control of the majority of the Yandex Group, including its main sources of income. This move could increase the Kremlin’s influence over some of Russia’s main internet services.
Vladimir Putin’s longtime ally Alexei Kudrin has joined the business as a corporate development adviser.
Yandex’s self-driving technologies, cloud computing, data labeling, and edtech would then be developed independently of Russia on an international scale.
The four international start-ups, which could eventually grow independently from Yandex, are something Volozh hopes to be able to advise.
“May everyone live in peace in the coming year?”