Millicom International Cellular: Three New Directors Nominated to Board of
LEUDELANGE, Sweden -- April 17, 2013
Millicom International Cellular SA, the international telecommunications and
media company (Stockholmsbörsen: MIC) announced Board changes today to be
proposed to its AGM on 28 May 2013.
The Nomination Committee of the Board will propose three new non-executive
Directors for election to the Board of Millicom. The new Board members
proposed are Mr Ariel Eckstein, Mr Lorenzo Grabau and Mr Alejandro Santo
Ms Donna Cordner, Mr Anders Kronborg and Mr Dionisio Romero Paoletti have
informed the Nomination Committee of their intention to step down at the
Each new Director brings highly relevant skills and experience as Millicom
becomes a more diversified telecommunications, online and media company
offering products as varied as mobile telephony, cable TV, media content,
e-commerce and mobile financial services. Last month, the company outlined
plans to double revenue by the end of 2017.
Mr Ariel Eckstein
Mr Eckstein, 45, has a strong background in online services, customer
experience and internet start-ups – activities in which the company is
developing a growing interest.
He has been Managing Director for LinkedIn EMEA since March 2011. Prior to his
current role, Mr Eckstein was Managing Director for LinkedIn’s Hiring
Solutions business in EMEA. Before joining LinkedIn, he was Vice President of
Business Expansion for AOL Europe.
Mr Eckstein’s other roles have included Principal with the New York City
Investment Fund, specializing in technology investments, and Chief Operating
Officer of Clickthings, a software company and an Engagement Manager with
Mr Eckstein holds a bachelor’s degree in International Relations from Tufts
University and an MBA from University of Virginia.
Mr Lorenzo Grabau
Mr Grabau, 48, brings experience from the media and cable sectors as well as
expertise in financial services – each growing areas within Millicom’s product
He has been a Member of the Board of Directors of Modern Times Group MTG AB,
of SoftKinetic BV, a leading gesture recognition technology company, and of
Rouge Partners S.à.r.l., a consumer products investment company since 2011.
Previously, Mr Grabau was a Partner and Managing Director at Goldman Sachs
International in London. He joined the Investment Banking division of Goldman
Sachs in 1994 and during his seventeen years at the firm held various
leadership positions within the Consumer/Retail and Media/Online industry
practices as well as the Financial Sponsors group.
On 8 April 2013 it was announced that he will be appointed as a Non-Executive
Director and co-chair of CTC Media, the leading independent broadcasting
company in Russia and an associated company of Modern Times Group on 30 April
2013. He has been nominated for election to the Board of Directors of
Investment AB Kinnevik at its AGM on 13 May 2013.
Mr Grabau holds a degree in Economics and Business from La Sapienza
Mr Alejandro Santo Domingo
Mr Santo Domingo, 36, has considerable experience in the media and online
sectors in Latin America and is highly familiar with businesses across the
continent as a Vice-Chairman of SABMiller plc, one of the world’s leading
brewers. As a Board Director at the drinks company since 2005, he also has
extensive knowledge of commerce in Africa, thereby giving him valuable insight
into mass-market consumer behaviour in the two continents in which Millicom
He is a Senior Managing Director at Quadrant Capital Advisors Inc., a Venture
Capital and Private Equity investment advisory firm and sits on the Boards of
many of the companies controlled by his family-owned business, the Santo
Mr Santo Domingo is Chairman of the Board of Valorem S.A., a company which
manages a diverse portfolio of industrial and media assets in Latin America,
and is a Director of the Board of Caracol Television S.A, Colombia’s leading
broadcaster, El Espectador, a leading Colombian newspaper, Cine Colombia, the
country’s leading film distribution and movie theater company, IST, a leading
Oil and Gas services company and Florida Crystals Corporation.
He is a member of the Board and Treasurer of Aid for AIDS, a member of the
Board of Trustees of the Metropolitan Museum of Art, the Educational
Broadcasting Corporation (WNET Channel Thirteen) and the Wildlife Conservation
Society. He is the Chairman of Alas, a foundation focused on early childhood
development a member of the Board of DKMS, a foundation dedicated to finding
donors for leukaemia patients.
Alejandro Santo Domingo holds a bachelor’s degree in History from Harvard
Cristina Stenbeck, Chairman of the Nomination Committee, commented: "I know
the whole Board will join me in thanking Donna, Anders and Dionisio for their
significant service to Millicom in recent years.
Our new colleagues will offer Millicom valuable input given their respective
expertise and experience across the regions and sectors relevant to Millicom’s
next phase of development.
Alejandro brings a truly unique combination of consumer insights and TMT
sector knowledge from his various investments across our existing and adjacent
markets in Latin America and Africa. Ariel has worked within online businesses
for many years and, as consumers’ lives become more digital and mobile, Ariel
will bring important knowledge of how to leverage our digital and e-commerce
investments across our mobile platform. Finally, Lorenzo has advised a number
of the world’s leading companies on strategy, M&A and partnerships across
Millicom’s geographic footprint.
As Millicom expands its range of value-added services across Latin America and
Africa and embarks on its next phase of growth within mobile data, online,
cable and mobile financial services, we are delighted to be able to nominate
such highly qualified individuals for election to the Board."
Notes to Editors
1. The proposal meets the requirements of the Swedish Code of Corporate
Governance for independent members of the Board of Directors. All eight of the
members of the Board are independent in relation to both the company and its
management and five are independent in relation to Millicom’s major
2. The Nomination Committee is comprised of Cristina Stenbeck, on behalf of
Investment AB Kinnevik, Annika Andersson on behalf of Swedbank Robur funds and
William C. Miller on behalf of J.M. Hartwell L.P.The three members in the
Nomination Committee jointly represent more than 40 percent of shareholder
votes in Millicom.
Millicom is a leading telecoms and media company dedicated to emerging markets
in Latin America and Africa. Millicom sets the pace when it comes to providing
digital lifestyle services to the world’s emerging markets, giving access to
the world, primarily through mobile devices. Operating in 15 countries,
Millicom offers innovative and customer-centric products. The Millicom Group
employs more than 10,000 people and provides mobile services, access to the
internet, content and financial services to over 47 million customers. Founded
in 1990, Millicom International Cellular SA is headquartered in Luxembourg and
listed on NASDAQ OMX Stockholm under the symbol MIC. In 2012, Millicom
generated revenue of USD 4.81 billion and EBITDA of USD 2.07 billion.
This press release contains “forward-looking statements”, which are statements
that are not historical facts, including statements concerning the parties'
ability to complete the proposed transaction; the anticipated timing of the
proposed transaction; the expected benefits and costs of the proposed
transaction; management plans relating to the proposed transaction; any
statements of operations, including the execution of integration plans; any
statements of expectation or belief; and any statements of assumptions
underlying any of the foregoing. Any statement in this announcement that
expresses or implies any party's intentions, beliefs, expectations or
predictions (and the assumptions underlying them) is a forward-looking
statement. Forward-looking statements involve inherent risks, uncertainties
and assumptions which could cause actual results to differ materially from
those expressed or implied by such forward-looking statements and assumptions.
The forward-looking statements contained in this announcement are made as of
the date hereof, and each party expressly disclaims any obligation to update
or correct any forward-looking statements made herein due to the occurrence of
events after the issuance of this announcement. This announcement is for
informational purposes only and is not an offer to sell or the solicitation of
an offer to buy any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
This information was brought to you by Cision http://news.cision.com
For further information, please visit www.millicom.com or contact:
Justine Dimovic,Director, Head of Investor Relations
Tel: +352 691 750 479 / email@example.com
Press and Media
Julian Eccles, VP, Corporate Communications
Tel: +44 7720 409374 / firstname.lastname@example.org
Press spacebar to pause and continue. Press esc to stop.