November 18, 2019 / 6:53 AM / a month ago

Russia's Yandex to adjust corporate governance structure

MOSCOW, Nov 18 (Reuters) - Russian internet company Yandex plans to adjust its corporate governance structure in an effort to respond to an “evolving regulatory environment”, with the creation of a Public Interest Foundation (PIF), the company said on Monday.

Yandex said the company’s priority share, currently held by Sberbank, will be transferred to the PIF, whose board of directors will include Yandex CEO Arkady Volozh. (Reporting by Maria Kiselyova; Writing by Alexander Marrow Editing by Shri Navaratnam)

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