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2019: Yandex shares update historical maximum after Putin meeting
On November 27, 2019, quotes Yandex"" updated the historical maximum after Russia President Vladimir Putin met with company representatives and signed a law for registration with the Public Interest Fund, the central element of Yandex's new corporate governance design. More. here
2019: Building a company
On November 18, 2019, Yandex announced the introduction of a new management structure for the company. In accordance with the changes, which was approved by the board of directors, a non-profit Public Interests Foundation is being created, to which part of the functions are transferred.
Yandex will coordinate with this fund the consolidation of 10% or more of its shares, the transfer of significant intellectual property, as well as personal data of users. The fund will even be able to temporarily suspend the CEO of the Russian Yandex, but will not affect other issues of the company's operational, strategic and economic activities.
Yandex invited representatives of universities and non-governmental organizations to the board of directors of the Foundation, with which the company has developed long-term partnerships. Three independent directors will be represented by non-state organizations: the Russian Union of Industrialists and Entrepreneurs, of which Yandex is a member, the Skolkovo School of Management and the 57th School Support Fund (Moscow).
The fund will also be able to appoint two of the 12 members of the board of directors of Yandex
 | Obviously, like any large IT company, Yandex must take into account changes in the regulatory environment in a key market for itself, says John Boynton, chairman of the board of directors of Yandex. - The Board of Directors analyzed various options for resolving this issue. The proposed structure respects the balance of all parties: it takes into account the public interests, the interests of public shareholders, employees and users and does not affect the operating activities of the company. |  |
It is assumed that the changes approved by Yandex may be associated with a bill to limit the share of foreign investors in significant Russian companies to 20%.
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