Mikhail Zhukov

Mikhail Zhukov leads HeadHunter Group, Russia's dominant online recruitment platform with over 70% market share — a level of market concentration rare in any major economy's job market. The platform serves as the primary meeting point between job seekers and employers across Russia and the CIS countries, with over 50 million registered job seekers and more than 600,000 active employer accounts. HeadHunter's competitive moat is the classic two-sided network effect: the more job seekers use the platform, the more valuable it is for employers (who pay for access), and vice versa. This has made HeadHunter's position extremely difficult to challenge — competitors Superjob and Avito Jobs hold significantly smaller shares. The company generates revenue primarily through employer subscriptions, job listing fees, and value-added recruitment services. HeadHunter's trajectory has been shaped by geopolitical events: originally listed on Nasdaq in 2019, the company restructured and relisted on the Moscow Exchange in 2024 following Western sanctions on Russia. The tight Russian labor market (record-low unemployment driven by military mobilization and emigration) has paradoxically benefited HeadHunter, as companies compete aggressively for scarce workers. Key stock drivers include Russian employment trends, average revenue per employer, new product launches, CIS market expansion, and the macroeconomic impact of sanctions on the Russian economy and labor market.