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Yandex intends to change the management structure

2019-11-18T07:55:49.616Z

The board of directors of the Russian company Yandex recommended the adoption of amendments aimed at changing the structure of corporate governance.



This was said in a statement.

It is noted that the changes, in particular, imply the creation of a special fund, which will be given a “golden share” of Sberbank.

“Now the holder of the“ golden share ”is Sberbank. Recall that now it can block the consolidation of a 25% stake in Yandex in the hands of one investor. When the “golden share” is transferred to the Public Interest Fund, the rights to it will be expanded, ”the statement said.

It is specified that the renewed share will give the right to nominate two of the 12 directors to the Yandex board of directors and block the consolidation of 10% or more of economic or voting interest in the same hands.

Board members nominated by the foundation will also be members of the new public interest committee. This body will consider a limited number of issues related to company management.

Earlier, Forbes magazine ranked Russian companies with the best reputation according to the Reputation Institute (RI). The second place in the list was taken by Yandex.

Source: russiart

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