January 22, 2020 / 2:55 PM / a month ago

Russia's Yandex says CEO Volozh to sell some shares in 2020

FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company's headquarter in Moscow, Russia October 4, 2018. REUTERS/Shamil Zhumatov/File Photo

MOSCOW (Reuters) - Russian internet giant Yandex (YNDX.O) said on Wednesday its founder and CEO Arkady Volozh intends to sell a limited number of his shares in the company, a document published by the U.S. Securities and Exchange Commission showed.

The company said Volozh and his family trust may sell up to a total of 2,029,580 Class A shares over the next year.

Yandex shareholders approved governance changes in December, which assuaged Kremlin fears about potential foreign influence.

Reporting by Vladimir Soldatkin, Writing by Alexander Marrow; Editing by Elaine Hardcastle

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