UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
June 3, 2022
YANDEX N.V.
Schiphol Boulevard 165
1118 BG, Schiphol, the Netherlands.
Tel: +31 202 066 970
(Address, Including ZIP Code, and Telephone Number,
Including Area Code, of Registrant’s Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Furnished as Exhibit 99.1 to this Report on Form 6-K is a press release of Yandex N.V. (the “Company”) dated June 3, 2022, announcing that Arkady Volozh has stepped down from roles as Executive Director and Chief Executive Officer of the Company and has transferred his voting power to the Board.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| YANDEX N.V. | |
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Date: June 3, 2022 | By: | /s/ Svetlana Demyashkevich |
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| Svetlana Demyashkevich |
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| Chief Financial Officer |
INDEX TO EXHIBITS
Exhibit No. | Description |
99.1 | Press release of Yandex N.V. dated June 3, 2022, announcing that Arkady Volozh has stepped down from roles as Executive Director and Chief Executive Officer of the Company and has transferred his voting power to the Board. . |
Exhibit 99.1
Arkady Volozh resigns as Executive Director and CEO of Yandex N.V. and transfers his voting power to the Board
Moscow–Amsterdam, June 3, 2022— Yandex N.V., a Dutch public limited company and one of Europe’s largest internet businesses, today announces that Arkady Volozh, the company’s co-founder, has stepped down with immediate effect from his positionёs as Executive Director and Chief Executive Officer of Yandex N.V. and from his board and executive positions with its international subsidiaries.
The European Union has imposed sanctions on Mr. Volozh personally. Neither Yandex nor the Group’s subsidiaries have been included on the sanctions lists of the European Union, the United States or the United Kingdom. We do not believe that these developments will affect the company’s operations, its financial position or its relations with partners.
Mr. Volozh is the settlor of a trust for the benefit of his family, which holds Class B shares representing a 45.3% voting and 8.6% economic interest in Yandex N.V. He is not a controlling shareholder of Yandex, and consequently these sanctions do not apply to Yandex N.V. or its subsidiaries.
Mr. Volozh has decided and informed the Board that he will not instruct the trustee as to how to vote such shares going forward. Pursuant to the terms of the trust, the trustee will vote such shares on all matters proposed to the shareholders in accordance with the recommendations of the independent Board of Directors.
The Board continues to function as normal. Yandex has a strong and deep management team that is well placed to take the company to new levels with the ongoing support of the Board.
“While I consider this decision to be misguided and ultimately counterproductive, I do not intend to give any instructions to my family trust as long as sanctions are in place. During this time the trust will vote in line with the recommendations of the Board. While I will continue to support the team wherever possible, this decision is in the best interests of the company and its stakeholders,” said Mr. Volozh.”
About Yandex
Yandex (NASDAQ and MOEX: YNDX) is a technology company registered in the Netherlands that builds intelligent products and services powered by machine learning. Our goal is to help consumers and businesses better navigate the online and offline world. Since 1997, we have delivered world-class, locally relevant search and navigation products, while also expanding into e-commerce, online entertainment, cloud computing and other markets to assist millions of consumers in Russia and a number of international markets.
More information on Yandex can be found at https://ir.yandex/
Contacts:
Investor Relations
Yulia Gerasimova
Phone: +7 495 974-35-38
E-mail: askIR@yandex-team.ru
Press Office
Ilya Grabovskiy
Phone: +7 495 739-70-00
E-mail: pr@yandex-team.com