Kudrin to serve as Yandex corporate development advisor

MOSCOW. Dec 5 (Interfax) - Alexei Kudrin said on Telegram he had accepted the offer of Yandex to serve as a corporate development advisor.

"I will develop the corporate structure of a new holding together with the management to ensure the long-term sustainable development of the company on all markets, including those international," Kudrin said.

He did not provide other details, including when he would take office.

Kudrin was relieved of his duties as Russian Accounts Chamber head last week.

Back then, Yandex announced possible changes in its corporate structure, whereby the Russian business would be placed under "governance by the management," while the head structure Yandex N.V ., registered in the Netherlands, may leave the ranks of Russian business owners. The international segments of the cloud, drone, education and crowdfunding divisions will also be assigned to it.

Rumors that Kudrin may take a position in Yandex to help the company divide its business appeared about six months ago. It was first said that he was going to take a position in the company, while later reports said that Kudrin might acquire a 5% stake in Yandex for the transfer and assistance in coordinating the asset division as "a political heavyweight."