Millicom (Tigo) Executive Chair Mauricio Ramos steps down as Chair of the Board Maxime Lombardini to assume as Non-Executive Interim Chair
Millicom (TIGO) announced that Mauricio Ramos is stepping down as Chair of the Board on September 30, 2024. The Board has appointed Maxime Lombardini as Interim Chair. Ramos joined Millicom in 2015 as CEO, became a Board member in 2020, and was appointed Executive Chair in September 2023.
Under Ramos' leadership, Millicom transformed into a leading telecom provider in Latin America, developing a strong corporate culture and executing a successful M&A strategy. Key achievements include exiting 6 African countries, acquiring Cable Onda in Panama, and consolidating ownership of its Guatemalan subsidiary.
Lombardini, who has been COO and President since September 2023, will step down from these roles to assume the position of Interim Non-Executive Chair. A Nominations Committee will propose a new Chair for election at the next annual general meeting.
Millicom (TIGO) ha annunciato che Mauricio Ramos si dimetterà dalla carica di Presidente del Consiglio il 30 settembre 2024. Il Consiglio ha nominato Maxime Lombardini come Presidente ad interim. Ramos è entrato in Millicom nel 2015 come CEO, è diventato membro del Consiglio nel 2020 ed è stato nominato Presidente Esecutivo a settembre 2023.
Sotto la guida di Ramos, Millicom si è trasformata in un fornitore di telecomunicazioni leader in America Latina, sviluppando una forte cultura aziendale ed attuando una strategia M&A vincente. Tra i principali risultati si annoverano l’uscita da 6 paesi africani, l'acquisizione di Cable Onda in Panama e la consolidazione della proprietà della sua filiale guatemalteca.
Lombardini, che è stato COO e Presidente da settembre 2023, lascerà questi ruoli per assumere la posizione di Presidente Non Esecutivo ad interim. Un Comitato per le Nomine proporrà un nuovo Presidente da eleggere nella prossima assemblea generale annuale.
Millicom (TIGO) anunció que Mauricio Ramos renunciará a su cargo como Presidente de la Junta el 30 de septiembre de 2024. La Junta ha nombrado a Maxime Lombardini como Presidente Interino. Ramos se unió a Millicom en 2015 como CEO, se convirtió en miembro de la Junta en 2020 y fue designado Presidente Ejecutivo en septiembre de 2023.
Bajo el liderazgo de Ramos, Millicom se transformó en un proveedor de telecomunicaciones líder en América Latina, desarrollando una sólida cultura corporativa y ejecutando una exitosa estrategia de fusiones y adquisiciones (M&A). Entre los logros clave figuraban la salida de 6 países africanos, la adquisición de Cable Onda en Panamá y la consolidación de la propiedad de su filial guatemalteca.
Lombardini, quien ha sido COO y Presidente desde septiembre de 2023, dejará estos roles para asumir el cargo de Presidente No Ejecutivo Interino. Un Comité de Nominaciones propondrá un nuevo Presidente para su elección en la próxima reunión anual de accionistas.
Millicom (TIGO)는 Mauricio Ramos가 2024년 9월 30일에 이사회 의장직에서 물러날 것이라고 발표했습니다. 이사회는 Maxime Lombardini를 임시 의장으로 임명했습니다. Ramos는 2015년 CEO로 Millicom에 합류했으며, 2020년에 이사로 선임되었고 2023년 9월에 집행 의장으로 임명되었습니다.
Ramos의 리더십 아래 Millicom은 라틴 아메리카의 선도적인 통신 제공업체로 변모하였으며, 강력한 기업 문화를 발전시키고 성공적인 M&A 전략을 실행하였습니다. 주요 성과로는 6개 아프리카 국가에서 철수하고, 파나마의 Cable Onda를 인수하며, 과테말라 자회사의 소유권을 통합한 것이 포함됩니다.
2023년 9월부터 COO 및 사장직을 맡고 있는 Lombardini는 이러한 역할에서 물러나 임시 비상임 의장직을 수락할 것입니다. 인사 위원회는 다음 연례 총회에서 선출할 새로운 의장을 제안할 것입니다.
Millicom (TIGO) a annoncé que Mauricio Ramos se retirera de son poste de Président du Conseil d'administration le 30 septembre 2024. Le Conseil a nommé Maxime Lombardini comme Président par intérim. Ramos a rejoint Millicom en 2015 en tant que PDG, est devenu membre du Conseil en 2020 et a été nommé Président Exécutif en septembre 2023.
Sous la direction de Ramos, Millicom s'est transformé en un fournisseur de télécommunications de premier plan en Amérique Latine, développant une forte culture d'entreprise et exécutant une stratégie de fusions et acquisitions réussie. Parmi les principales réalisations figurent le retrait de 6 pays africains, l'acquisition de Cable Onda au Panama et la consolidation de la propriété de sa filiale guatémaltèque.
Lombardini, qui a été COO et Président depuis septembre 2023, quittera ces fonctions pour assumer la position de Président Non Exécutif par intérim. Un Comité de Nominations proposera un nouveau Président à élire lors de la prochaine assemblée générale annuelle.
Millicom (TIGO) gab bekannt, dass Mauricio Ramos am 30. September 2024 von seinem Posten als Vorsitzender des Vorstands zurücktritt. Der Vorstand hat Maxime Lombardini zum Interimsvorsitzenden ernannt. Ramos trat 2015 als CEO zu Millicom und wurde 2020 Vorstandsmitglied, bevor er im September 2023 zum Executive Chair ernannt wurde.
Unter Ramos’ Führung hat sich Millicom zu einem führenden Telekommunikationsanbieter in Lateinamerika entwickelt, eine starke Unternehmenskultur gefördert und eine erfolgreiche M&A-Strategie verfolgt. Zu den wichtigsten Erfolgen gehört der Rückzug aus 6 afrikanischen Ländern, die Übernahme von Cable Onda in Panama und die Konsolidierung der Eigentümerschaft seiner guatemaltekischen Tochtergesellschaft.
Lombardini, der seit September 2023 COO und Präsident ist, wird von diesen Positionen zurücktreten, um die Rolle des Interim Non-Executive Chair zu übernehmen. Ein Nominierungsausschuss wird einen neuen Vorsitzenden zur Wahl auf der nächsten Hauptversammlung vorschlagen.
- Successful M&A strategy under Ramos' leadership, including acquisitions in Panama and Nicaragua
- Consolidation of 100% equity ownership in Guatemalan subsidiary, the largest cash flow producer
- Expansion of trading on NASDAQ, with 30% of traded volume now occurring in the US
- Potential M&A transactions to strengthen position in Colombia announced in 2024
- Successful efficiency strategy implemented by Lombardini as COO, increasing cash flow generation
- Change in leadership with Ramos stepping down as Chair of the Board
- Temporary leadership structure with Lombardini as Interim Chair until next annual general meeting
Millicom (Tigo) Executive Chair Mauricio Ramos steps down as Chair of the Board Maxime Lombardini to assume as Non-Executive Interim Chair
Luxembourg, September 19, 2024 – Millicom (NASDAQ: TIGO) (the “Company”) announced today that Mauricio Ramos is stepping down from his roles of director and Chair of Millicom Board of Directors (the “Board”) on September 30, 2024. The Board, which will be composed of eight directors for the time being, has unanimously appointed Maxime Lombardini to act as Interim Chair of the Board. A Nominations Committee will be convened and work to submit a proposal for election of a Chair of the Board to the next annual general meeting of Millicom shareholders.
Mr. Ramos joined Millicom in 2015 as CEO, became a member of the Board in 2020 and was appointed Executive Chair of the Board in September 2023 and Non-Executive Chair in May 2024.
“The Board of Directors of Millicom thanks Mauricio for his successful stewardship of the Company’s strategic direction over the last 9 years. Mauricio has transformed Millicom into one of the leading providers of telecommunication services in Latin America. Under Mauricio’s leadership, Millicom developed a highly engaging company purpose (“to build digital highways”); a unique and leading corporate culture (“Sangre Tigo”); and a winning M&A strategy to expand and strengthen Millicom’s presence across Latin America”.
Mr. Ramos led the Company’s successful strategy to exit 6 countries in Africa between 2015 and 2022 to focus the Company on Latin America. In 2018 he led the acquisition of Cable Onda, the Group’s first asset in Panama. This was followed in 2019 by the acquisition of Telefonica’s mobile subsidiaries in Panama and Nicaragua. Today, Panama is the second largest cash flow generator for Millicom. In 2022, Mr. Ramos led the consolidation of the Company’s
Atlas Investissement owner, Xavier Niel congratulated Mr. Ramos for “his clear strategic vision and decisive execution to create a now leading telecom platform across the region. We credit Mauricio for taking Millicom to this strong, strategically focused and leading regional position through successful M&A. The Company now has meaningful strategic and financial upside going forward”.
Mr. Ramos commented: “I wish to thank the Board of Millicom, all its past and present directors, and also Atlas Investissement for their continuous guidance, probing challenge and dedicated support to me and the Company over these very fruitful years. I wish to thank also every single member of the outstanding Millicom team for their devout effort and immense commitment to make Tigo all it can be for our shareholders and do all it can do for our communities and their connectivity. One more time: Sangre Tigo!”
Mr. Lombardini will immediately assume the position of Interim Non-Executive Chair of the Board and will simultaneously step down as COO and President of the Company. Mr. Lombardini has been the COO and President of Millicom since September 2023 and has very successfully executed on a comprehensive and fruitful efficiency strategy to increase the Company’s cash flow generation. The Board welcomed Maxime as Interim Non-Executive Chair indicating that Maxime’s “deep knowledge of the Company now and his strong track-record ideally position him to lead the Board’s work now”.
-END-
For further information, please contact:
| Press: | Investors: |
| Sofia Corral, Director Corporate Communications press@millicom.com | 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 June 30, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people, and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
Regulatory Statement
This 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 22:15 CET on September 19, 2024.
FAQ
When is Mauricio Ramos stepping down as Chair of Millicom (TIGO) Board?
Who will be the Interim Chair of Millicom (TIGO) after Mauricio Ramos?
What were some key achievements of Mauricio Ramos during his tenure at Millicom (TIGO)?
How has Millicom's (TIGO) presence on NASDAQ changed under Mauricio Ramos' leadership?
