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Arkadij Volož, CEO and CEO of Yandex, has resigned from his position, the company announced today.
The European Union has imposed sanctions against Volož personally. Yandex has not been sanctioned by the EU, the US or the UK. Volož had 45.3% of the vote and 8.6% economic interest in Yandex.
Why we care. Yandex is generally considered to be Russian Google, although Yandex is ahead of Google (Yandex was introduced in 1997). According to StatCounter, Yandex’s share of the Russian search market is estimated at 48%, followed by Google’s 49% – but Yandex says it owns 61% search market. Both this development, as well as the others below, mean that it is worth keeping an eye on the state of the company if you work on any site that relies on Yandex’s organic traffic.
What Volozh said. “Although I believe this decision is wrong and ultimately counterproductive, I do not intend to give any instructions to family trust as long as sanctions apply. During this time, the fund will vote in accordance with the committee’s recommendations. Although I will continue to support the team wherever possible, this decision is in the best interests of the company and its stakeholders. “
Go deeper. On March 22, Wired announced Is Russia’s largest technology company too big to fail? The article describes how everything Volzh helped build in 20 years began to decay in 20 days.
Yandex concussion timeline. Here are some important Yandex stories from the Russian invasion of Ukraine on February 24:
- February 28: Nasdaq has stopped trading in Yandex shares. (Nasdaq)
- March 3: “We believe that the current capacity of the data center and other technology that is critical to our operation will allow us to continue our normal operations for at least the next 12 to 18 months. In the event of any prolonged interruption in the supply of hardware, software or other technology used in our business or offering, if we are unable to provide alternative sources, our business could be materially adversely affected over time. (Yandex)
- March 7: Esther Dyson and Ilya Strebulaev resigned from the Board of Directors of Yandex (Yandex).
- March 15: Yandex Deputy CEO and CEO Tigran Khudaverdyan, who was sanctioned earlier in the week, has resigned. (Yandex)
- March 16: Yandex is rumored to be negotiating the sale of its media department (news and zen). (TechCrunch)
- April 27: Yandex’s financial data for the first quarter were published. Yandex reported an adjusted net loss of 8.1 billion rubles ($ 110 million). The company said that by 23 February it had experienced steady business operations and strong growth in most of its companies (Reuters)
- April 28: Yandex has announced the sale of news and wife VK. (Yandex)
- May 18: Yandex was reported to be researching search and mail sales and moving its headquarters to Israel. (Data center dynamics)
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Danny Goodwin is the senior editor of Search Engine Land. In addition to writing daily about SEO, PPC and more for Search Engine Land, Goodwin also manages a list of Search Engine Land experts. It also helps program our conference series, SMX – Search Marketing Expo. Prior to joining Search Engine Land, Goodwin was executive editor of the Search Engine Journal, where he led editorial initiatives for the brand. He was also an editor at Search Engine Watch. He has spoken at a number of major search conferences and virtual events, and has gained his expertise from a number of publications and podcasts.
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