Alexei Kudrin, former head of Russia's Audit Chamber, to advise on corporate development
Ten days after Yandex confirmed a review of its operations that include moving IP out of Russia and selling much of the remainder locals, it has hired an ally of President Vladimir Putin to help out with the restructure.
Alexei Kudrin, described as a longtime Putin ally and who resigned as head of Russia's Audit Chamber last week, has confirmed that he will be joining Yandex to advise on corporate development. Kudrin was appointed as finance minister in 2000 when Putin started his first term as Russian president, and held the post for 11 years. He was also deputy prime minister from 2000 to 2004 and again in 2007. According to some sources, he is credited with helping the Russian economy rid itself of much of the foreign debt it had accumulated during the 1990s.
Although headquartered in Moscow, Yandex's parent company, Yandex NV, is registered in Amsterdam, and a special committee of the Board of Directors said that it was exploring various options. Notably, these included divesting ownership and control of all businesses in the Yandex Group inside Russia, while moving forward with operating the divisions of certain services independently from Russia, including self-driving technologies and cloud computing.
The company said the Board anticipated that Yandex NV would in due course be renamed, with those businesses being divested in Russia retaining exclusive rights to the use of the Yandex brand.reported, this would leave Yandex NV holding much of the company's offshore operations, if carried out, with the rest passing to other owners – possibly Yandex management in Russia.
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