– SWEDEN, Stockholm – Millicom (Stockholmsbörsen: MIC) announced today that its Board has decided unanimously to appoint Mauricio Ramos as its new Chief Executive Officer with effect from 1 April 2015.
Mauricio was most recently President of Liberty Global’s Latin American Division, a position he held from 2006 until February 2015. Over the past fourteen years he has held a number of leadership roles at Liberty Global, including positions as Chairman and CEO of VTR in Chile, CFO of Liberty’s Latin American Division and President of Liberty Puerto Rico. Throughout this period he has successfully developed both mobile and broadband businesses in Latin America, delivering solid operational improvement and outstanding financial results. Mauricio is also Chairman of TEPAL, the Latin American Association of Cable Broadband Operators. He is a Colombian national who received a degree in Economics, a degree in Law and a postgraduate degree in Financial Law from Universidad de los Andes in Bogota.
Cristina Stenbeck said “The Board is pleased to announce the appointment of Mauricio Ramos as CEO of Millicom. He is a talented and experienced world-class professional, with a deep understanding of the digital consumer. He will bring the vision, leadership and execution capability necessary to further develop our strong Tigo franchise and create long term shareholder value.”
Mauricio Ramos commented “I am absolutely thrilled to have been asked to become Millicom’s CEO. I have long admired the company’s innovative strategy, strong market positions, entrepreneurial spirit and talented professionals. I am looking forward to working with the Millicom team, the Board of Directors and partners to further develop an outstanding company, with very promising opportunities. I look forward to continuing to bring Tigo’s innovative products and services to customers and their communities while delivering superior returns to its shareholders.”
Cristina Stenbeck added “On behalf of my fellow Board members I would like to take this opportunity to thank Millicom’s CFO, Tim Pennington, who has acted as Interim CEO over the last few months. Under Tim’s leadership the company continued to execute its strategy, strengthen its core business and deliver a solid set of financial results. We are very grateful for Tim’s deep engagement and additional commitment during this transition period and we look forward to his continued contribution in his role as CFO and as an integral part of the Millicom leadership team.”
Millicom is a leading telecommunications and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing innovative and customer-centric digital lifestyle services to the world’s emerging markets. The Millicom Group employs more than 16,000 people and provides mobile, cable and satellite services to over 56 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2014, Millicom generated revenue of $6.4 billion and EBITDA of $2.1 billion.
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