Artyom Savinovsky named CEO of IPJSC Yandex

MOSCOW. April 11 (Interfax) - The chief executive of Yandex's Russian operating company Yandex LLC, Artyom Savinovsky has been appointed CEO of the eponymous IPJSC effective April 23, the company said in a press release.

IPJSC Yandex is the future holding company for the Russian assets of the Internet company.

Savinovsky joined Yandex in 2008 and has headed the group's Russian division since April 2022. He was initially responsible for financial reporting and planning at the company and participated in Yandex's listing on the Nasdaq in 2011. Prior to joining Yandex, he worked for EY.

The shareholders of Netherlands-based Yandex N. V., the technology group's current parent company, voted on March 7 to approve the group's restructuring, which includes the sale of its Russian business to a consortium of private investors, as represented by closed-end mutual investment fund Consortium.First, for 475 billion rubles.

The first stage of the deal is expected to be closed by April 30. Yandex said earlier that the new holding company plans to get listing on the Moscow Exchange before the first part of the deal is closed. Yandex N.V ., meanwhile, will delist from the exchange.