Nebius forms team of senior managers under CEO Volozh

MOSCOW. July 16 (Interfax) - Netherlands-based Yandex N.V , under the Nebius brand and Yandex's former parent company, said that the company has formed a management team.

Nebius said that Arkady Volozh, company founder and Yandex co-founder, is returning as CEO.

Roman Chernin is Business Director and Andrei Korolenko is Product and Infrastructure Director, with both of them having previously worked at Yandex. Nebius has over 1,000 employees.

Ofir Nave is COO, having previously worked as a managing partner at Israel-based Arnon.

Nebius currently has $2.5 billion in monetary funds.

The company expects to reach $200 million in annual recurring revenue over the next six to nine months.

The annual general shareholders meeting should be held in August to approve the official renaming of the legal entity to Nebius and to appoint the board of directors.

The group includes four main business areas, namely Nebius AI cloud platform, Toloka AI crowdsourcing platform, Avride unmanned technologies, and TripleTen educational services.

Nebius fully divested the capital of Yandex's Russian business on July 15, thereby receiving $2.8 billion and 162.5 million of its Class A shares upon closure of the deal.