Former Zillow Executive Chloe Harford Resigns Board Position at Cian Over Russian Invasion

March 14, 2022
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The leading Russian real estate classifieds vertical Cian has announced a reshuffle of its board due to the resignation of former Zillow executive Chloe Harford.

Having joined the board of the Larnaca, Cyprus based company three months ago, Ms Harford resigned on the 8th of March with a company statement company citing "recent geopolitical developments" - understood to refer to Russia's invasion of Ukraine.

A Volcanologist by training, Harford spent 11 years at Zillow and has held several board positions throughout her career including a current position as a Director of the American PtopTech company Roofstock.

As a result of Ms. Harford's resignation, Cian's Audit Committee now consist of independent, Moscow-based Douglas Gardner, former REA Group CEO Simon Baker and SeLoger co-founder Gilles Blanchard, with Mr. Gardner serving as Chairperson.

The board has also appointed Cian's MD, Maksim Melnikov to the Compensation, Governance and Nominating committee which now consists of Gilles Blanchard, Dmitry Antipov and Maksim Melnikov, with Mr. Blanchard serving as Chairperson.

Much like fellow Russian classifieds operator Yandex, Cian has seen the price of its shares plummet dramatically since the beginning of Russia's war in Ukraine. Both the NASDAQ and the NYSE have suspended trading on all Russian stocks and the company's future is full of uncertainty.

Neither the company nor any of its Directors have been the subjects of western sanctions yet. In a statement on the 28th of February the company expressed that its ability to conduct business in Russia had not been affected, Cian did note however that it "cannot guarantee that the current geopolitical situation, conflict surrounding Russia and Ukraine and the resulting economic developments in Russia will not adversely affect our operations and financial results in the future."

March 14, 2022
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

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