Khudaverdyan steps down as exec director, deputy CEO at Yandex NV

MOSCOW, Mar 16 (PRIME) -- Tigran Khudaverdyan has stepped down with immediate effect from his positions as executive director and deputy chief executive officer of Yandex N.V. and at its Dutch subsidiaries, Yandex N.V., a Netherlands-registered parent of Russian Internet company Yandex, said late on Tuesday.

Khudaverdyan had been managing director of the Yandex group since 2019 and added earlier on Tuesday the position of general director of Yandex Russia instead of Yelena Bunina. The same day he was put on the E.U.’s fourth Russia sanctions package. The E.U. said that Yandex is involved in hiding information from Russians about the country’s military operation in Ukraine.

“Yandex has a strong and deep management team in place and the board will consider the appropriate management structure going forward. Yelena Bunina will continue to serve as general director of our principal operating subsidiary, Yandex, until April 15,” Yandex N.V. said in the statement.

The company also said that Khudaverdyan was sanctioned in the E.U. as an individual. Neither Yandex N.V. nor any of its subsidiaries have been sanctioned in the U.S., E.U. or U.K.

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