Millicom Welcomes New Directors Amid Leadership Changes
Millicom Welcomes New Directors Amid Leadership Changes
Millicom, widely recognized by its brand Tigo, has recently made notable adjustments to its Board of Directors, signaling a strategic shift within its governance structure. The announcement, made public by the company, included the immediate departure of Thomas Reynaud and Aude Durand from their roles on the Board. Following their leave, the Board remains intact with eight directors, who have unanimously selected Jules Niel and Pierre-Emmanuel Durand as interim members until the next annual general meeting.
Understanding the Changes
The exit of Mr. Reynaud and Ms. Durand comes amidst broader changes within Millicom’s leadership, prompting a reevaluation of governance strategies. Mr. Reynaud began his journey with Millicom’s Board in May 2023, while Ms. Durand joined earlier in 2024. Their replacements signal a shift in the company’s strategic direction, aligning with increased commitments from their primary company, Iliad Group. Mr. Reynaud holds the position of Chief Executive Officer at Iliad and chairs the Board of Directors at Tele2, while Ms. Durand notably serves as the Deputy Chief Executive Officer of Iliad and participates on multiple boards within the telecom sector.
Contributions of Departing Members
In an official statement, the Board expressed deep gratitude toward Thomas Reynaud and Aude Durand for their contributions, emphasizing that their efforts over the past eighteen months yielded significant improvements and strong results for Millicom. The Board noted their continued association with the Millicom family, wishing them all the best in their future endeavors.
Introducing New Board Members
In the wake of these departures, Millicom welcomes Jules Niel and Pierre-Emmanuel Durand into interim roles. Jules Niel, a young and promising investment associate, joined NJJ Telecom Europe in 2023, where he has been actively involved in overseeing operations at the prominent media group Nice-Matin. His experience also includes a significant role within the M&A division at Rothschild & Co in Paris, positioning him well for his new responsibilities.
Pierre-Emmanuel Durand brings a wealth of knowledge to the Board. Serving as an Investment Director since 2018 at NJJ Telecom Europe and Atlas Investissement, his expertise in financial controlling, M&A, and business development will be invaluable to Millicom during this transitional period. His previous roles included a Manager position at KPMG Paris, further enriching his extensive background with corporate finance.
Future Governance Plans
Looking ahead, a Nominations Committee will be formed to propose members for the Board’s election at Millicom's forthcoming annual general meeting. This proactive approach reflects the company's commitment to maintaining a robust governance framework and adapting to evolving market dynamics.
About Millicom
Millicom operates primarily throughout Latin America, offering both fixed and mobile telecommunications services. Under the TIGO brand, the company provides an array of digital services, ranging from mobile financial solutions to extensive broadband access. As of the last findings, Millicom has been servicing over 45 million customers with a remarkable fiber-cable network covering more than 14 million homes.
Founded in 1990 and headquartered in Luxembourg, Millicom has established its identity by delivering innovative solutions tailored to the needs of its diverse customer base, including impactful programs like TIGO Money, TIGO Sports, and TIGO ONEtv. These initiatives not only set a standard for telecom services but also contribute to the company’s vision of connecting communities and fostering digital inclusivity.
Frequently Asked Questions
What prompted the recent changes to Millicom's Board?
The changes were partly due to increased commitments of the departing members to their primary employer, Iliad Group, alongside a reevaluation of Millicom's governance structure.
Who are the newly appointed interim directors at Millicom?
Jules Niel and Pierre-Emmanuel Durand have been appointed as interim members of the Board until the next annual general meeting.
What roles did Thomas Reynaud and Aude Durand hold at Millicom?
Thomas Reynaud served as a Board member while being the CEO of Iliad, and Aude Durand was also a Board member, serving as the Deputy CEO of Iliad.
How many directors currently make up Millicom's Board?
The Board is currently composed of eight directors, maintaining its full structure despite the recent transitions.
What services does Millicom offer?
Millicom offers a variety of digital telecommunications services, including mobile financial services, high-speed internet, and business solutions.
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