Millicom (Tigo) Board of Directors Appoints Marcelo Benitez as CEO
25 Abril 2024 - 3:30PM
Millicom (Tigo) Board of Directors
Appoints Marcelo Benitez as CEO
Luxembourg, April 25, 2024 –
Millicom announced today that its Board of Directors has appointed
Marcelo Benitez as CEO of Millicom, effective June 1, 2024. Benitez
has had a distinguished career with Millicom, having joined the
company in Paraguay nearly 30 years ago and risen through the
Company’s ranks to his most recent role as CEO of TIGO Panama.
Benitez's selection completes the final phase of
a succession planning and selection process, which included a
thorough evaluation of internal and external candidates to ensure
that the company's next CEO possesses the vision, experience,
talent and leadership qualities necessary to deliver on Millicom's
strategic plans. "After an extensive evaluation, it is clear to our
Board that Marcelo is the right person to lead Millicom into the
future”, indicated Mauricio Ramos, Chair of the Board of Directors
of the Company.
Under Marcelo’s leadership, TIGO Panama
completed the successful integration of Cable Onda and Movistar
Panama to become the country’s leading provider of telecom
services. Prior to this, Benitez held the position of Vice
President for the Central America Region, where he oversaw the
Company’s operations across Honduras, El Salvador, Costa Rica,
Nicaragua, and Panama. His career with TIGO has also included roles
as CEO of TIGO El Salvador and CEO of Tigo Business (TIGO’s B2B
operation), among others. Benitez holds an MBA from Pontificia
Universidad Católica de Chile, a BBA from Pacific University, and a
leadership program at Stanford University.
Ramos said, “We congratulate Marcelo on his
appointment, and the entire Board looks forward to partnering with
him and the leadership team as we execute on our strategic
initiatives. Marcelo has the right experience and skills, as well
as a deep understanding of the Company and of the Sangre Tigo
culture that defines it.”
As planned in the transition process, and
subject to shareholder approval at the AGM currently scheduled for
May 23, 2024, Mauricio Ramos will continue as Chair of the
Board of Directors of Millicom. In addition, Ramos will continue to
perform key executive roles, overseeing external stakeholder
relations, including government relations, joint venture partners,
M&A, and legal, governance and regulatory matters.
Also subject to shareholder approval at the AGM,
Maxime Lombardini will join the Board of Directors of Millicom. “We
are excited that Maxime will bring his extensive experience and
track record in leading telecom businesses to the Millicom Board.
His knowledge of Millicom is already tremendous and his
contributions to cost control and increased profitability have
already been very positively impactful. We all look forward to
continuing to work closely with Maxime”, indicated Ramos.
Lombardini will continue in his position as President and COO until
year-end to support Marcelo Benitez and ensure a continued smooth
transition with a strong focus on cost savings, de-leveraging and
increased profitability.
-END-
For further information, please contact:
Press: |
Investors: |
Sofia Corral,
Director Corporate Communications press@millicom.com |
Michel Morin, VP
Investor Relations investors@millicom.com |
Regulatory StatementThis
information was prior to this release inside information and is
information that Millicom is obliged to make public pursuant to the
EU Market Abuse Regulation. This information was submitted for
publication, through the agency of the contact person set out
above, at 22:30 CET on April 25, 2024.
About MillicomMillicom (NASDAQ
U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of
fixed and mobiletelecommunications services in Latin America.
Through our TIGO® and Tigo Business® brands, we provide a wide
range of digital services and products, including TIGO Money for
mobile financial services, TIGO Sports for local entertainment,
TIGO ONEtv for pay TV, high-speed data, voice, and
business-to-business solutions such as cloud and security. As of
December 31, 2023, Millicom, including its Honduras Joint Venture,
employed approximately 16,500 people, and provided mobile and
fiber-cable services through its digital highways to more than 45
million customers, with a fiber-cable footprint over 13 million
homes passed. Founded in 1990, Millicom International Cellular S.A.
is headquartered in Luxembourg.
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