Yandex Announces Shareholder Approval of Proposed Corporate Governance Restructuring

Yandex N.V., a technology company that builds intelligent products and services powered by machine learning, announced that its shareholders have approved the proposed restructuring of the corporate governance of the Yandex group, as described in the Shareholder Circular dated November 18, 2019. A meeting of holders of Class A ordinary shares (the “Class A Meeting”) and an Extraordinary General Meeting (the “EGM”) were held on Friday, December 20, 2019, and all proposals were approved with the requisite majorities.

In connection with the proposed restructuring, Alexey Komissarov and Alexei Yakovitsky were appointed as non-executive members of the Board of Directors for terms ending at the Annual General Meeting to be held in 2023.

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“We are grateful for the trust our investors have placed in us, and for such overwhelming support for the changes that the Board proposed last month,” said John Boynton, Chairman of the Board of Yandex. “This trust springs from our adherence to the highest standards of governance, and we are pleased to have built such strong relationships with our many stakeholders.”

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Yandex is a technology company 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 information services. Additionally, we have developed leading on-demand transportation services, navigation products, and other mobile applications for millions of consumers across the globe. Yandex, which has 34 offices worldwide, has been listed on the NASDAQ since 2011.

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