Millicom Welcomes New Board Members in Leadership Changes
Millicom Welcomes New Faces to Its Board of Directors
Millicom, widely known as Tigo, has made significant adjustments to its Board of Directors. The company has confirmed the immediate resignation of Thomas Reynaud and Aude Durand from their positions as board members. This change marks a pivotal point for Millicom as it continues to focus on its strategic goals.
Understanding the Leadership Changes
Thomas Reynaud joined the Millicom Board in May 2023, while Aude Durand became a board member in February 2024. However, both have chosen to step down due to escalating responsibilities within the Iliad group of companies, where Reynaud serves as the CEO and Durand is the Deputy CEO. Their departure coincides with significant leadership and governance changes at Millicom, reflecting the dynamic nature of the telecommunications landscape.
Gratitude for Their Contributions
The Board of Directors expressed its heartfelt appreciation for the impactful contributions made by both Reynaud and Durand during their tenures. Over the past eighteen months, their input has significantly aided in enhancing the company's performance and overall results. Though stepping away from the board, they remain valued members of the Millicom family.
Introducing the New Board Members
In light of these changes, Jules Niel and Pierre-Emmanuel Durand have been appointed as interim board members, tasked with guiding the company until the next annual general meeting. Jules Niel, born in 2000, has been associated with NJJ Telecom Europe since 2023, focusing on investments in various telecommunications operators such as Eir, Salt, and Monaco Telecom Group.
Pierre-Emmanuel Durand: Profile of Experience
Pierre-Emmanuel Durand, born in 1990, brings a wealth of knowledge from his current role as an Investment Director at NJJ Telecom Europe and Atlas Investissement. His extensive background in financial controlling, M&A, and business development will add a new dimension to the board's strategic objectives. He has previously worked for KPMG Paris, lending his expertise in transaction services and financial due diligence.
Nominations Committee to Propose Board Members
To ensure a well-rounded board composition moving forward, a Nominations Committee will be convened to prepare for proposed new members at the upcoming annual general meeting. This initiative aims to incorporate a diverse set of perspectives and skills into the leadership of Millicom, aligning with its ambitions in the telecommunications sector.
About Millicom
Millicom (NASDAQ: TIGO) is a key player in the Latin American telecommunications market, offering both fixed and mobile services through its TIGO and Tigo Business brands. The company has greatly evolved since its inception in 1990, expanding its offerings to include digital products like TIGO Money and TIGO Sports. Millicom's commitment to providing high-quality telecommunications services has seen it reach over 45 million customers across Latin America, employing around 15,000 individuals and maintaining a fiber-cable network that passes through over 14 million homes.
Frequently Asked Questions
Who stepped down from the Millicom Board recently?
Thomas Reynaud and Aude Durand have resigned from their positions on the Millicom Board of Directors.
Who are the new interim board members?
Jules Niel and Pierre-Emmanuel Durand have been appointed as interim members of the Millicom Board.
Why did the board members resign?
The resignations are due to increased commitments within the Iliad group of companies where both members hold significant roles.
What is Millicom's core business focus?
Millicom focuses on providing telecommunications services, including mobile and fixed internet, along with digital solutions across Latin America.
What are TIGO’s brands offering?
TIGO offers a range of services, including TIGO Money for mobile finance, TIGO Sports for entertainment, and TIGO Business for corporate telecommunications solutions.
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