Yandex announces that the company's board of directors has approved changes to the corporate governance structure.
The project provides for the formation of a non-profit Public Interests Foundation. He will be able to nominate two of the 12 directors to the board of Yandex and participate in decision-making within a limited and well-defined list of issues.
The competence of the new structure, in particular, will include: approval of transactions for the consolidation of 10% or more voting or economic shares in one hand, approval of the transfer of significant intellectual property, approval of changes in the company's regulations for the protection of non-anonymous big data of Russian users, coordination of possible partnerships of the company with other governments, if any.
At the same time, the Fund will not be able to influence other issues of Yandex's operational, strategic and economic activities.
On December 20, a special meeting of shareholders will be held, at which the described changes must be approved. But even now, representatives of universities and non-governmental organizations with which Yandex has established long-term partnerships have been invited to the Board of Directors of the Fund. These are the Higher School of Economics, Moscow Institute of Physics and Technology, Moscow State University, St. Petersburg State University and ITMO, as well as the RSPP, the Skolkovo School of Management and the School No. 57 Support Fund (Moscow). In addition, the Fund's board will include Arkady Volozh, Tigran Khudaverdyan and Elena Bunina, the heads of Yandex.
If shareholders support the proposed changes, the Fund will nominate RANEPA Vice-Rector, Director of the Higher School of Public Administration Alexei Komissarov and CEO of VTB Capital Alexei Yakovitsky as two new members of the Yandex Board of Directors.
Source: 3dnews.ru