Ipsos Sells 80% of Its Russian Subsidiary Ipsos Comcon LLC
Ipsos Group has completed the sale of 80% of its Russian subsidiary, Ipsos Comcon LLC, to Direct Investments JSC, a company controlled by Russian businessman Andrei Malyshev. This divestiture is in compliance with a Russian federal law adopted in July 2025, effective March 1, 2026, which limits foreign or dual-nationality owners' stakes in market research firms operating in Russia to 20%.
Government Approval and Transaction Details
The transaction was approved on February 26, 2026, by the Russian Governmental Commission. Ipsos Comcon LLC, a wholly-owned subsidiary of Ipsos Group, employs 600 staff and serves over 500 clients in Russia. The revenues from this entity accounted for about 2% of Ipsos's global revenues in 2025. The group initiated the divestment process in December 2025 in consultation with the relevant Russian authorities. Ipsos SA will retain a passive minority stake of 20% in Ipsos Comcon LLC.
Leadership Changes Post-Transaction
On February 28, 2026, Ekaterina Ryseva stepped down as CEO of Ipsos Comcon LLC, succeeded by Sergey Evstratkin, who was previously the subsidiary's CFO. Ms. Ryseva will maintain a role within the organization to oversee staff and operations continuity. According to Ipsos, this reorganization will allow Ipsos Comcon LLC to continue its operations in Russia without any service interruptions.
Financial Deconsolidation
Ipsos Comcon LLC will be deconsolidated from the group's financial statements starting January 1, 2026.
