Vadim Glushchenko, head of the Global IT Cooperation Center, explains that the current management of Yandex is set to continue steering the company even after the sale of the business to a private investor consortium. This transition is expected to positively influence the company’s trajectory as the leadership structure shifts while remaining in control within the new ownership framework.
Glushchenko notes that management will persevere in its operations, with a Directors Fund established to support them and no single consortium member holding a controlling stake. This situation marks an unprecedented arrangement for Russia, and it is anticipated to bring stability to operations. The belief is that the leadership team will gain a stronger voice in guiding the company’s path, aligning strategic decisions with long-term objectives.
According to him, the question of who leads the company is crucial for Yandex employees. The new setup implies not only a change in leadership but also the expansion of decision-making powers. This enhanced authority is described as a form of added influence that helps chart the company’s development and prevents moves that could impede progress. The executives are expected to become co-owners, joining the circle of private investors and increasing their stake in the business’s outcome.
Glushchenko adds that the Directors Fund may nominate two managers to serve on the Board of Directors, further integrating leadership with governance. He emphasizes that these are internal changes aimed at fostering positive growth, with a leadership team whose competence and market relevance are already recognized. For Yandex specialists, the current executive group is seen as predictable and decisive, with a clear vision that aligns with future directions for the company.
He stresses that divesting Yandex NV shares is no longer a prudent option. The most prudent course now, according to Glushchenko, is to wait for the shareholders’ meeting and for legal formalities to be completed. Once those steps are finished, the consortium of investors will present proposals to shareholders. It is expected that holders of Yandex NV shares listed on the Moscow Stock Exchange will be able to convert them into securities of the new parent company, confirming a coordinated transition plan.
Earlier reports indicated that the Dutch firm Yandex NV agreed to sell the Yandex business to a private investor consortium for 475 billion rubles. The new parent entity, International Corporation Joint Stock Company Yandex, will oversee the retained operations, services, and assets of the Yandex NV group, with the exception of foreign start-ups. This restructuring signals a shift in the corporate architecture while maintaining the core brands and capabilities that fuel Yandex’s ecosystem.
In the broader picture, observers see the deal as a strategic realignment designed to preserve continuity in leadership and accountability. The leadership’s continued influence is expected to help navigate regulatory landscapes, corporate governance norms, and market dynamics. By merging managerial authority with new ownership interests, Yandex aims to sustain innovation, protect ongoing projects, and support a stable transition for employees and stakeholders alike. The governance model underscores a commitment to responsible management, transparency, and long-term value creation as the company evolves under its new corporate umbrella.