Yandex Announces Alexander Shulgin, Current CFO, Named COO of Russian Business,

Yandex

has today announced changes in its senior management team. Alexander Shulgin, currently the group's Chief Financial Officer, has been appointed Chief Operating Officer of Yandex's Russian business, effective September 1. In his new role, Mr. Shulgin will be the principal executive in charge of operations of Yandex's Russian business. Greg Abovsky will be promoted to Chief Financial Officer to replace Mr. Shulgin, also effective September 1. Arkady Volozh will remain the Chief Executive Officer of Yandex N.V., the holding company managing the entire Yandex Group, with overall responsibility for the development of Yandex products both in Russia and abroad. "In Russia, Yandex is a large, successful business," said Arkady Volozh. "Managing a company of this scale demands a lot of time and energy. I'm delighted that Alexander Shulgin will be assuming this responsibility. He is ideally positioned to take on the role of an operational executive for Yandex's Russian business. His promotion will allow me to focus my energies on broader strategic initiatives, including expansion into new business models and markets and developing new areas to apply