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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

Friday, Aug. 22


Get ready to pledge allegiance to the flag during National Flag Day, paying tribute to when, 23 years ago today, the iconic hammer-and-sickle was replaced with the tricolor that now flutters in the wind. Petersburgers will be treated to a free concert on Palace Square, a military parade and a culminating air show featuring Russias Russian Knights stunt pilots.



Saturday, Aug. 23


Uppsala Park plays host to Fairy Noon today, a performance of five separate fairy tales ranging from folk classics to more haunting selections. There will be three different renditions of the tales throughout the day and tickets start at 500 rubles ($13.80) for adults and 300 rubles ($8.30) for children.


Classic Finnish cartoon characters the Moomins expect to receive a warm welcome from Russian fans during todays Moomin Festival at the Pearl Plaza Shopping Center at 51 Petergofskoye Shosse. Become a kid again or introduce a new generation to the beloved creation of Finnish writer Tove Jansson.



Sunday, Aug. 24


The tortured genius of Dutch master Vincent van Gogh gets his day in the centers Konnushnaya Ploschad during Make Art Like Van Gogh, a daylong celebration of the artist that will allow amateur artists to try and replicate the work that made the famed painter world-renowned.


Experience a variety of dances highlighting the diversity of the world around as at the final day of the Ethno-Dance International Dance Festival that has been at the St. Petersburg Humanitarian University of Trade Unions this past week. Tonights performance will feature Egyptian dancers accompanied by local orchestras.



Monday, Aug. 25


Today kicks off the Elena Obraztsovoy International Competition for Young Vocalists in the large hall of the Shostakovich Philharmonic. Talented youngsters will showcase their range over the next six days before a winner is chosen on Aug. 30.



Tuesday, Aug. 26


Love movies but hate all those words? Then check out Rodina Cinema Centers Factor of Consensus film forum this evening. Silent movie classics from the beginning of the 20th century will be screened and accompanied by a pianist, who will provide the soundtrack for the ongoing action. The screenings begin at 7 p.m. Check Rodinas website for more details.



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