Millicom has announced the appointment of former Liberty Global LatAm chief Mauricio Ramos as its new CEO, starting on 1 April.
Ramos, in that post since 2006, had been at the cable multinational for 14 years, acting as chairman and CEO of Chile’s…
Millicom has announced the appointment of former Liberty Global LatAm chief Mauricio Ramos as its new CEO, starting on 1 April.
Ramos, in that post since 2006, had been at the cable multinational for 14 years, acting as chairman and CEO of Chile’s VTR, CFO of LatAm and President of Liberty Puerto Rico.
With a strong track record in both mobile and broadband businesses, the Colombian national is also chairman of TEPAL, the Latin American Association of Cable Broadband Operators.
Millicom chairwoman Cristina Stenbeck described Ramos as ” talented and experienced … with a deep understanding of the digital consumer” and with “the vision, leadership and execution capability necessary to further develop our strong Tigo franchise and create long term shareholder value”.
A spokesperson clarified that Ramos’ appointment did not reflect any particular strategic focus on the Latin American business, adding that his experience would also be valuable in Africa. Millicom last year launched its Tigo Star business, adding cable, broadband and TV services to six of its Latin American businesses. So far, with fixed-line services less common in the region, its African businesses remain mobile only.
Ramos said he looked forward to “continuing to bring Tigo’s innovative products and services to customers and their communities while delivering superior returns to its shareholders.”
Interim CEO Tim Pennington, who took over following the resignation of Hans-Holger Albrecht in December, will remain in his original Group CFO position “as an integral part of the Millicom leadership team,” said Stenbeck.
The Luxembourg-headquartered company operates in Latin America (Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Paraguay) and Africa (Chad, DRC, Ghana, Rwanda, Senegal and Tanzania), under the Tigo brand.
In 2014, Millicom generated revenue of US$6.4bn and EBITDA of US$2.1bn.
