Promising businesses will fall under the control of the Dutch Yandex NV
Yandex is seriously considering the possibility of restructuring in the near future with the separation of the domestic and international lines of the company’s business. Information about the division appeared in the official blog with a link to the statement of the Board of Directors of Yandex NV
The upcoming restructuring will help Yandex continue to focus on creating innovative technological products and services, as well as develop the company in the interests of its users, employees and shareholders.
At the moment, Yandex NV is considering the possibility of separating the main part of the business, including a number of foreign areas, into a separate group of companies that will retain the Yandex brand. Also, the Dutch company (we are talking specifically about Yandex NV) plans to eventually withdraw from the shareholders of this group of companies and even change its name.
The Board of Shareholders is also considering the possibility of changing the corporate structure, in which the management of the spun-off group of companies will be transferred to the management of Yandex. It is argued that the planned ones will help ensure the sustainable development of the company’s businesses in all markets.
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Yandex will continue to develop as a private, independent group of companies, operate on the open market and compete with local and global players. But under the management of Yandex NV, the businesses of autonomous cars, cloud technologies, educational services and data markup platforms will fall — all of them will be separated into independent companies. But these services will remain on the Russian market.