Vkontakte founder Pavel Durov in resignation U-turn

Just days after he announced his resignation from Vkontakte, Pavel Durov, the founder of the popular Russian social networking website has reversed his decision to step down as chief executive officer of the company. In a statement on his Vkontakte page today, Durov wrote: “I have come to realise that my resignation could create unnecessary risks for our company, and so I intend to stay and work as CEO.”

The announcement comes two days after after Durov said he would be resigning following a change in the structure of Vkontakte that curtails his powers as chief executive officer. In a statement published on Tuesday, Durov said: “I will continue to participate in the life of VKontakte from the position of its founder, but a formal position in the new conditions do not interest me. It is becoming difficult to defend the principles which once served as the foundation of our social network.”

Durov’s ongoing conflict with the company’s Kremlin-friendly shareholders — investment group United Capital Partners (UCP) and Mail.ru headed by metal magnate Alisher Usmanov — has been well documented by the media. On the one hand, UCP has taken issue with the time Durov has spent at Telegram, a mobile messaging app, he launched last year. Separately, Durov’s position as a free speech advocate has increased tensions with both shareholders. During the 2011 anti-government protests, Durov refused to shut down groups on Vkontakte opposed to the United Russia ruling party, a line he has adhered to over subsequent years.

Durov’s position at the social networking site was further weakened in January when he sold his remaining 12% stake in Vkontakte, which was acquired by Mail.ru in March. Launched in 2006, Vkontakte, dubbed “Russia’s Facebook” by western press has grown to become one of the world’s largest social networking sites, in particular among Russian speakers. According to data provided by Vkontakte, as of January 2014, there are 239 million accounts.