Billionaire Yuri Milner leaves Mail.ru board

Fri 16 March 2012 10:00, Tamara Yadvichuk

Mail.ru Group , the largest Internet company in Russia, has announced that Yuri Milner steps down from his position as chairman of the board of directors. Milner, who founded Mail.ru in 1998, will pass the position to the company’s current CEO Dmitri Grishin.

Mail.ru Group owns:

the most popular email service in Russia
two IM services (ICQ and Mail.ru Agent)
the biggest Russian-language online gaming platform
portal with a number of services such as weather, news and jobs
Odnoklassniki (Russian for ‘classmates’ – on the pic below) and My World – the largest Russian social networks after VKontakte, of which they also own 39.9%.

Impressive, huh?

With net profit of $208 million in 2011, Mail.ru today is more profitable than Yandex, which reported $179 million net profit last year. Will Mail.ru perform the same without Mr. Milner as chairman? I’ll keep you posted.

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