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TMCNet:  Millicom International Cellular: Millicom Appoints Tim Pennington as Chief Financial Officer and Makes Other Senior Finance Appointments

[February 11, 2014]

Millicom International Cellular: Millicom Appoints Tim Pennington as Chief Financial Officer and Makes Other Senior Finance Appointments

STOCKHOLM --(Business Wire)--

Millicom (News - Alert) (STO:MIC)(NASDAQ:MICC), the international telecommunications and media company (Stockholmsbörsen: MIC) announced today that it has appointed Tim Pennington to the role of Chief Financial Officer. He will take up the role in June 2014 and report to Millicom's President and CEO, Hans-Holger Albrecht.

Tim is currently the CFO at Cable & Wireless (News - Alert) Communications (LON: CWC). He was previously the Group Finance Director for Cable and Wireless plc. Prior to this Tim was CFO of Hutchison Telecommunications International Ltd. which was listed in Hong Kong and New York.

Tim was also Finance Director of Hutchison 3G (News - Alert) (UK) (Hutchison Whampoa's British mobile business). He also has corporate finance experience, firstly as Director in the specialized Financing Department at Samuel Montagu & Co. Limited and then as Managing Director of HSBC Investment Bank within its Corporate Finance and Advisory Department. He has a Bachelor of Arts (Honours) degree in Economics and Social Studies from the University of Manchester.

Commenting on Tim's appointment, Hans-Holger Albrecht said: "Tim will be a great addition to the team at Millicom as we pursue our goal to drive the digital lifestyle in our markets. I am delighted that we have been able to appoint someone with a depth of international and sector experience combined with detailed knowledge of corporate finance. I look forward to working with him."

Tim Pennington added "Millicom is a highly creative company with some great businesses and an excellent future opportunity. I am delighted to be joinin the company at such an exciting time and am really looking forward to working with Hans-Holger and the team there."


Millicom also announced today that it has appointed Interim CFO Marc Zagar to the role of Deputy CFO and Nicolas Didio as its new Head of Investor Relations whilst Justine Dimovic becomes Group Treasurer and Director of Corporate Finance. Nicolas will join the company on 1 April 2014.

Prior to joining Millicom and since October 2011, Marc Zagar was EVP Finance at MTG which he joined first in 2001. Before MTG, Marc worked for over ten years in various financial management positions within Vivendi (News - Alert) Universal, having started his career with Steelcase Strafor. He graduated from CESEM Business School in Reims, France and has a Master's degree from Université Dauphine in Paris.

Justine Dimovic has been leading the Millicom Investor Relations team since January 2012 when she joined Millicom. Prior to this she worked in equity research covering pan European telecom operators. Justine holds a civil engineering degree from the École nationale supérieure des mines in Nancy, France and a master degree in Corporate Finance from the EM Lyon business school.

Nicolas joins Millicom from BNP Paribas Investment Partners where he was Investment Analyst in Telecoms. Prior to BNP Paribas, Nicolas was from 2006 until 2012 a Vice President at Exane BNP Paribas covering Telecoms and Media. Before that he was an analyst at Natixis Securities and Natexis Capital. He has a Master's degree in Corporate Finance and is a certified EFFAS Financial Analyst.

Commenting on these appointments, Hans-Holger Albrecht said "I am delighted to welcome Nicolas to a company with which he is already very familiar. His clarity of thinking and integrity will be of great value to the team. Marc and Justine are highly professional colleagues whose counsel, technical and communications skills I value greatly and I look forward to continuing to work with them in their new roles."

About Millicom

Millicom is a leading international telecommunications 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. Millicom employs more than 10,000 people and provides mobile, cable, broadband, TV content, online and financial services to over 50 million customers. Founded in 1990, Millicom is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2013 Millicom generated revenue of $5.16 billion and EBITDA of $1.9 billion.

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