IBS founder Karachinsky leaves company's board

MOSCOW. May 11 (Interfax) - Anatoly Karachinsky, the founder and owner of IBS, has left its board of directors, the IT company's press service told Interfax.

The reasons for leaving the board were not specified. "This decision will not affect the company's operations and further development," an IBS spokesperson said.

Karachinsky was previously included in the U.S. sanctions list. The company provided no comment on this.

Apart from him, the company's former financial director, Yulia Yuhadi, also left the board.

An IBS representative specified that the Board of Directors now consists of five people - four IBS managers: Grigory Kocharov, Lev Drozdov, Leonid Zabezhinsky and Georgy Polikhronidi, as well as Alexei Krivoshapko of Prosperity Group.

Karachinsky owns 75% of IBS Holding LLC, the holding company of IBS IT Services JSC.