Tuesday, March 3, 2009

Millicom COO Becomes New CEO

Luxembourg based telecoms holding firm, Millicom International has announced that Marc Beuls is stepping down as the firm's CEO - and is to be replace by Mikael Grahne, currently Millicom's Chief Operating Officer.  Millicom operates under the Tigo brand in Asia, Africa and Latin America.

Millicom Chairman, Daniel Johannesson, said: “As the Company moves into a new phase the Board believes that our focus on operational excellence should be driven from the top. Mikael Grahne has the experience, personality and qualifications necessary for this new challenge.”

Mikael Grahne commented: “I am delighted to succeed Marc Beuls as Chief Executive. Although I take on this role in a challenging economic climate, I look forward to leading our talented and experienced management team and building on Millicom’s success.

Millicom Chairman, Daniel Johannesson added: “I know that I speak not only for the Board, but for everyone at Millicom, when I thank Marc Beuls for his leadership and substantial contribution over the last 11 years as Chief Executive. He has been responsible for leading the Company through a period of extremely high growth to create the force that Millicom is today in emerging markets. We wish him every success in his future career.”

Marc Beuls commented: “My period as Chief Executive of Millicom has been both enjoyable and immensely fulfilling. I have worked closely with Mikael and I wish him well as he now takes the helm.”

Mikael Grahne (born 1953) joined Millicom in February 2002 as the Chief Operating Officer, having previously been President of Seagram Latin America. Prior to joining Seagram, he was the regional president of a division of the EMEA region at PepsiCo and held various senior management positions with Procter & Gamble. Mr Grahne has an MBA from the Swedish School of Economics in Helsinki, Finland.

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