Millicom (Tigo) announces a new appointment in its executive team

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Millicom (Tigo) announces the appointment of Bart Vanhaeren as the new Chief Financial Officer (CFO) following the planned succession process. Bart will succeed Sheldon Bruha, who played a key role in driving cost-efficiency programs and developing financial talent within the company. Bart, a fourteen-year veteran of Millicom, has extensive experience in senior financial and management roles. CEO Mauricio Ramos expressed gratitude to Sheldon for his contributions and congratulated Bart on his promotion.

Millicom (Tigo) announces a new appointment in its executive team

Luxembourg, March 22, 2024 – Today, Millicom announced that Sheldon Bruha will be stepping down from the role of Chief Financial Officer (CFO), effective on April 15th, as part of a planned succession process. Sheldon will be succeeded as CFO by Bart Vanhaeren, currently VP Corporate Finance at Millicom. Sheldon will continue to serve as an advisor to Millicom through June 30, 2024 to ensure a continued smooth and organized transition.

Sheldon joined the Company as CFO at the beginning of 2022 and, among other key successfully executed initiatives, has played an instrumental role in driving Project Everest, the Company’s cost-efficiency program that is expected to achieve more than $250 million of savings. He has also helped develop financial talent within the company, enabling the appointment of Bart. Sheldon will pursue other professional opportunities upon the end of the transition period.

Bart is a fourteen-year veteran of Millicom, having held several senior financial and management leadership roles during that time. Most recently, he has overseen Corporate Finance, which encompasses the Company’s Treasury, Tax, Mergers & Acquisitions and Corporate Administration activities. Prior to Millicom, Bart distinguished himself through a series of leadership roles across global organizations such as Strategy and Corporate Development Manager for EMEA at 3M, Senior Consultant at Deloitte and Senior Auditor at PriceWaterhouseCoopers.

Mauricio Ramos, CEO and Chairman of the Board of Millicom said, “We thank Sheldon for his significant contributions over the past two-plus years with us. Sheldon played a key role in our group-wide efficiency programs and in leading the finance organization through significant achievements. We wish Sheldon continued success in his future endeavors. I also want to congratulate Bart on his well-deserved promotion to CFO. Over these past years with us, Bart has demonstrated strong leadership; has been instrumental in establishing and driving our capital structure; and has led our significant inorganic M&A strategic initiatives, all in preparation for his new role as CFO.”

For further information, please contact:

Press: Sofía Corral, Communications Director press@millicom.com

Investors: Michel Morin, VP Investor Relations investors@millicom.com

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications 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.

FAQ

Who is the new Chief Financial Officer (CFO) of Millicom (TIGO)?

Bart Vanhaeren is the new Chief Financial Officer (CFO) of Millicom following the planned succession process.

What role did Sheldon Bruha play at Millicom (TIGO)?

Sheldon Bruha served as the Chief Financial Officer (CFO) and played a key role in driving cost-efficiency programs and developing financial talent within the company.

How long has Bart Vanhaeren been with Millicom (TIGO)?

Bart Vanhaeren, the new CFO, is a fourteen-year veteran of Millicom with extensive experience in senior financial and management roles.

Who expressed gratitude to Sheldon Bruha and congratulated Bart Vanhaeren?

CEO Mauricio Ramos expressed gratitude to Sheldon for his contributions and congratulated Bart on his promotion to CFO.

What is Sheldon Bruha's transition plan after stepping down as CFO?

Sheldon Bruha will continue to serve as an advisor to Millicom through June 30, 2024, to ensure a smooth and organized transition.