Yandex Board of Directors' Statement on Arkady Volozh Designation
06/06/2022 - 07:25 AM
MOSCOW, RUSSIA and AMSTERDAM, NETHERLANDS / ACCESSWIRE / June 6, 2022 / Yandex N.V., a Dutch public limited company and one of Europe's largest internet businesses, today releases a statement of its Board of Directors regarding the recent designation of Arkady Volozh.
"We were extremely disappointed to learn that our Founder and CEO, Arkady Volozh, was sanctioned by the EU. We believe this decision to be wholly unjust and based on an inaccurate understanding of Arkady and what Yandex is all about. Rather than being sanctioned, Arkady should be lauded for building, from the ground up, one of the most independent, modern and progressive companies in Russia and one of the most innovative companies in Europe; a true pioneer in search, ride hailing, maps and navigation, and autonomous vehicles to name but a few of the areas where Yandex excels.
We note that Arkady has stepped down from his positions as Executive Director and Chief Executive Officer of Yandex N.V. and from his board and executive positions with its international subsidiaries and understand that under the circumstances this was in the best interests of the company and its stakeholders.
Nevertheless, we will provide whatever support we can to the company and Arkady as he seeks to appeal and overturn his unfounded designation."
About Yandex
Yandex (NASDAQ and MOEX:YNDX) is a technology company registered in the Netherlands that builds intelligent products and services powered by machine learning. Our goal is to help consumers and businesses better navigate the online and offline world. Since 1997, we have delivered world-class, locally relevant search and navigation products, while also expanding into e-commerce, online entertainment, cloud computing and other markets to assist millions of consumers in Russia and a number of international markets.
More information on Yandex can be found at https://ir.yandex/
Contacts:
Investor RelationsaskIR@yandex-team.ru
Press Office pr@yandex-team.com
SOURCE: Yandex N.V.
https://www.accesswire.com/703951/Yandex-Board-of-Directors-Statement-on-Arkady-Volozh-Designation
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All Other Telecommunications
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Tags
Technology Services, Internet Software/Services, Information, All Other Telecommunications
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Schiphol
About YNDX
yandex is one of the largest internet companies in europe, operating russia’s most popular search engine and one of its most visited websites. we generated almost 60% of russia’s search traffic in q4 2014 (liveinternet), while our sites attracted over 62 million unique visitors in december 2014 (tns). yandex creates services for people, with both a deep understanding of their interests and profound knowledge of their reality. all of our products and services are created with the mission to make people’s lives easier and better and provide them with the tools to discover new possibilities in their lives. practically all of yandex’s services use machine learning – including in the ranking of search results, serving online advertisements, and performing translations. in 2009 we developed and implemented our own machine learning method – matrixnet. thanks to our speech recognition technology, users can communicate verbally with the yandex.navigator street navigation app instead of typi
