Millicom announced Mauricio Ramos (pictured) will step down as CEO in 2024 to head up the company’s board of directors, as chair Jose Antonio Rios Garcia resigned.
Ramos will take over Garcia’s role as interim chair until an AGM in May 2024, after which he is expected to resign as CEO.
The current chief will then become an executive chair, subject to shareholder approval.
As executive chair, Ramos will oversee external stakeholder relations spanning M&A, joint ventures, legal, governance and regulatory matters.
Millicom stated a plan to find a successor to Ramos is already underway.
Garcia held leadership roles in the company’s board since 2017 and is leaving to pursue other endeavours.
In a further leadership shake-up, Iliad Group veteran Maxime Lombardini was named as Millicom’s new president and CCO, reporting to Ramos.