ivi Founder Resigns from the Board of Directors

Oleg Tumanov, founder of the ivi online cinema, resigned as chairman of the company's board of directors, the company's press service said, and "decided to focus on new projects."

“We are grateful to Oleg, as the founder of the company, for establishing the Russian business of online cinemas and providing unconditional leadership for 12 years,” Nikolai Vasilkov, CEO of the company, is quoted in the company’s press service as saying. It is not specified who will take Tumanov's place on the board.

In a conversation with RBC on May 17, Tumanov mentioned that he no longer works at ivi.

Vedomosti reported in April that the founder of ivi would no longer be the company's CEO, but would become chairman of the board of directors and be responsible for the video service's development strategy. According to Tumanov, he himself proposed to change the CEO, because "in a period of serious challenges and changes," a "careful and divided approach to operational and strategic management" is needed. After that, ivi was headed by Vasilkov.

Tumanov launched ivi in ​​2010. The share of online cinema in the market of video services, according to the results of last year, amounted to 26%, according to TMT Consulting data. ivi's revenue for the same period increased by 35% to RUB 11.9 billion.