Usmanov's departure will protect , among other things , the game Mail.ru Group from US sanctions

Alisher Usmanov’s USM structure and Megafon mobile operator gave sole control over the holding Mail.ru Group. After the renewal of the board of directors, the management of the company was transferred to its top managers and partners.

For the gaming division Mail.ru Group changes in the board of directors are an opportunity to preserve the profits received from Western players. The refusal of USM and Megafon from control over the holding means that Usmanov’s entry into the US sanctions list will not harm Mail.ru Group.

Over the past year, the holding earned 17.4 billion rubles on MMO projects, and in annual terms, the profit from games increased by 53%. Western gamers provide the holding with increasing revenue (55% of profit in the fourth quarter of last year).

In his public statement, Usmanov admitted that the strategy of transferring control over the company had been prepared for several years. He noted that Mail.ru The Group has gained an opportunity to strengthen its position in the market thanks to young talents who are particularly close to modern digital business models.

Thus, three top managers received the privilege in the form of the exclusive right to vote Mail.ru Group. These are the CEO of the holding Boris Dobrodeev, his deputy Dmitry Sergeev, as well as Dmitry Grishin, who still heads the board of directors. Representatives of USM in the council will be replaced by employees of Gazprombank.

Alisher Usmanov became a co-owner Mail.ru Group ten years ago, but now, according to Kommersant, he is ready to switch to other digital projects. His next goal is to create the largest company in the e—commerce segment, capable of “pushing the positions of Amazon and eBay.”

Sources: Mail.ru Group, Kommersant