The developer of MyOffice, a Russian software suite designed to replace Microsoft Office, has appointed a new chief executive after its revenue halved and losses tripled over the past year.
Natalya Balyasova, previously the head of the company's legal department, has been named the new general director of New Cloud Technologies. The company, which operates under the MyOffice brand, is one of the largest developers of workplace software in Russia and has built its business around replacing products made by the American technology corporation Microsoft.
The leadership change was approved at an extraordinary general meeting of the company's participants, according to the Russian business newspaper Vedomosti. The newspaper cited Dmitry Komissarov, a cofounder and minority shareholder in New Cloud Technologies.
A source at the cybersecurity firm Kaspersky Lab, which holds a majority stake in New Cloud Technologies, said the contract of the outgoing chief executive, Vyacheslav Zakorzhevsky, was due to expire in September and the company had no intention of renewing it.
Zakorzhevsky took over as head of New Cloud Technologies in September 2024, following 17 years at Kaspersky Lab.
Komissarov said Zakorzhevsky's predecessor, Pavel Kalyakin, was also dismissed due to deteriorating financial results. He said the company had expected its new leadership to achieve technological leadership in the field of digital workspaces, and to increase the competitiveness of MyOffice both within Russia and abroad.
Instead, New Cloud Technologies saw its revenue fall by 50 percent in 2025, while its financial losses increased threefold. The development of new software products came to a halt entirely due to a lack of available funding.
Mass layoffs and office closures
The financial collapse has led to severe cuts across the organisation since the spring of this year.
Artem Semenov, the chairman of the primary trade union organisation at New Cloud Technologies, said the company's workforce had been reduced from 1,073 employees down to between 250 and 270 people by August.
The company has also closed its regional offices in St. Petersburg and the technology park city of Innopolis.
Eugene Kaspersky, the founder of Kaspersky Lab, acknowledged the difficulties in June. He described New Cloud Technologies as a loss making asset and confirmed that his company had reduced its financial support for the developer.
Domestic software developers like New Cloud Technologies have sought to capture market share in recent years. Microsoft and other Western technology companies began scaling back their operations in Russia, leaving local businesses and government agencies reliant on domestic alternatives for their daily operations.
