Yandex executive director to resign upon imposition of EU personal sanctions

MOSCOW. March 16 (Interfax) - Yandex Group Executive Director Tigran Khudaverdyan has stepped down due to personal sanctions imposed on him by the European Union, the Internet company said in a statement.

He will also withdraw from the Board of Directors and Dutch subsidiaries (besides the parent company, a Yandex-Uber joint venture and other entities are registered in the Netherlands), the company said.

Yandex said on Tuesday that Khudaverdyan would also serve as the general director of the company's Russian branch.

Now Yelena Bunina, whom Khudaverdyan was supposed to replace, would be serving as general director of LLC Yandex until April 15, the company said.

"Yandex has a strong management team, and the Board of Directors will reply on it while considering changes to the management structure," it said.

The European Union imposed personal sanctions on Khudaverdyan on March 15. Yandex is not under restrictions by either the EU, or the U.S., or the UK.