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Durov Steps Down as CEO of VKontakte

Published: April 1, 2014 (Issue # 1803)



  • Durov cited last year's shake-up in the composition of the company's stakeholders as significantly curbing his decision-making ability.
    Photo: Wikimedia Commons

  • Vkontakte founder Pavel Durov posted this picture along with a note announcing that he is leaving his post.
    Photo: Pavel Durov / Vkontakte

The founder of Russia's largest social network VKontakte, Pavel Durov, stepped down as CEO of the company after seven years in the post. He announced this on his Vkontakte page on April 1.

“The CEO has significantly less freedom in managing the company after the changes occurred in the Vkontakte shareholders' structure in April 2013,” Durov said. He added that he would continue cooperating with the company as a founder but was not interested in any formal position.

"It has become increasingly complicated to stick to the principles we once founded our social site upon," Durov said in his farewell letter, which included a picture of jumping dolphins with the text: "So long and thanks for all the fish."

A source close to the company confirmed Durov's resignation to Kommersant. In a tweet, the spokesperson for Vkontakte, Grigory Lobushkin, declined to provide any comment on Durov's statements. But an unnamed source close to the company said the vice president of the company and former president of Kommersant editorial house Dmitry Sergeyev will step in as provisional head of the company, RBC reported.

As recently as February, Lobushkin had denied reports Durov was planning to resign and refused to comment about possible successors.

VKontakte, a site similar to Facebook that draws most of its users from the former Soviet Union, has gone through several changes since investment fund United Capital Partners owned by businessman Ilya Sherbovich bought out two of the site's co-founders in April 2013, becoming its biggest shareholder with a 48 percent stake.

Since then Sherbovich publicly disapproved Durov's actions, accusing him among other things of using Vkontakte resources to promote the instant messenger Telegram, which, according to Sherbovich, was a rival.

Shortly after that Durov's brother stepped down as technical director of the firm.

In December 2013, Durov sold his 12 percent stake to MegaFon's CEO Ivan Tavrin, a close affiliate of billionaire Alisher Usmanov, who now owns the controlling share in Vkontakte after his Mail.ru group bought Tavrin's stake earlier this month.

After that, more changes took place in the management of the company. Durov's close allies, brothers Ilya and Igor Perekopsky, who held the positions of deputy CEO and financial director, left the company.

Pavel Durov, who created VKontakte in 2006 and has been founder and CEO of the company ever since, is branded by industry people as the Russian Zuckerberg. In 2013 the biggest Russian social network boasted that 14 million new users had joined it.





 


ALL ABOUT TOWN

Saturday, Dec. 20


The city’s Babushkina Park on Prospekt Obukhovskoy Oborony will be invaded by dozens of rocking-and-rolling Santa Clauses during today’s Santa Claus Parade. Not only will they parade through the park but there will also be competitions amongst the festively-clad participants and a musical master class. There will also be a prize for the best-dressed Santa Claus.


Add to your record collection during the Vinyl Christmas Sale at the KL10TCH bar on Konyushennaya Ploshchad today. Spend the afternoon perusing the records for sale while listening the classic, clean sound of records spinning out hits from a variety of musical genres and time periods.



Sunday, Dec. 21


The Zenit St. Petersburg basketball team returns to the northern capital this evening for a matchup with Krasny Oktyabr, a Volgograd-based basketball club. Tickets for the game, which tips off at 6 p.m. this evening, can be purchased on the club’s website or at their arena, Sibur Arena, on Krestovsky island.


Satisfy your sugar cravings during Sweet New Year, an ongoing seasonal festival at the Raduga shopping center. Each weekend of December will welcome hungry visitors to taste hundreds of different kinds of desserts made from a plethora of sweet treats. Workshops are open to visitors and seasonal gifts can also be purchased for those rushing to finish their New Year shopping.



Monday, Dec. 22


Pick out the latest fashions as holiday gifts for loved ones or as early presents for yourself during the Christmas Design Sale at Kraft on Obvodny Kanal, starting on Dec. 20 and continuing through Dec. 27. Designer clothes will be on sale every day of the week or you can buy something more festive to decorate the home while sipping on hot coffee and perusing the various master classes.



Tuesday, Dec. 23


Meet Arctic explorers Fedor Konukhov and Viktor Simonov during SPIBA’s and Capital Legal Service’s event “Arctic Expedition” this morning in the Mertens House business center at 21 Nevsky Prospekt. The meeting will discuss the explorers’ ongoing eco-social project and how companies can use the project as a unique marketing opportunity. Email office@spiba.ru by Dec. 22 if you wish to attend.



Wednesday, Dec. 24


The Anglican Church of St. Petersburg we will be holding a Christmas Eve service at 7 p.m. led by Rev Wm. Shepley Curtis of the Episcopal Church. The service will be held at the Swedish Church at 1/3 Malaya Konyushennaya Ulitsa.



To have your event included in All About Town, email tot@sptimes.ru



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