November 18, 2019 / 1:50 PM / 22 days ago

Sberbank CEO Gref to remain on Yandex board despite governance changes

MOSCOW, Nov 18 (Reuters) - Russian internet firm Yandex said Sberbank CEO German Gref will stay on as a board member, despite the company announcing changes to its corporate governance structure on Monday.

A ‘golden share’ in Yandex, which Sberbank currently holds will be transferred to a new Public Interest Foundation (PIF), as part of a move to allay Russian government concerns over potential foreign influence at the company. (Reporting Nadezhda Tsydenova; writing by Alexander Marrow; editing by Jason Neely)

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