Russian Legal Change Forces Ipsos Divestment

Ipsos has closed the sale of 80% of its wholly owned subsidiary in Russia, Ipsos Comcon LLC, to Direct Investments JSC, a company run by businessman Andrei Malyshev. The move is to comply with a law limiting foreign ownership of MR companies in the country, which comes into force this weekend.

Ipsos ComCon LLC serves more than 500 clients and employs 600 people. As of 2025 its revenues made up around 2% of Ipsos' global revenues. The amendment to Russian Federal Law, voted through on July 15th last year by the country's Parliament, states that foreign and double citizenship owners of companies performing market research in Russia shall not have more than 20% of their equity. New majority owner Malyshev is described by Ipsos as 'a preeminent investor and successful businessman in Russia.'

Ipsos SA says it 'always had and will always keep its priority on its clients' needs and the well-being of its employees', and that the move allows it to continue to operate in Russia and provide staff with stability. Since December it has been in discussion with Russian authorities to ensure the divestment fulfils the necessary conditions, and yesterday (February 26th) a Russian Governmental Commission deliberated in session and approved the transaction. In consequence Ekaterina Ryseva will step down from her position of General Director tomorrow, to be replaced by current CFO Sergey Evstratkin - but will remain with the company.

The financials of Ipsos Comcon will be deconsolidated from the group accounts starting from the beginning of January 2026.

Group home page: www.ipsos.com .