Millicom announced yesterday that Tim Pennington will retire from the role of Chief Financial Officer on April 1. He will be replaced by Sheldon Bruha, who will join the company on January 17, and will assume the role of Chief Financial Officer on April 1. Pennington will continue to serve as an advisor to the CEO through the end of 2022.
Pennington joined the company as CFO in 2014, as the company transformed itself into a provider of fixed and mobile broadband services in Central and South America. He was involved in Millicom’s exit from Africa; launching its U.S. NASDAQ listing; its acquisitions in Panama and Nicaragua; and the consolidation of its ownership of the Guatemala operation.
Mauricio Ramos, CEO of Millicom said “Tim has been a great partner and has helped us transform Millicom into one of the leading providers of cable, mobile and high-speed broadband services in Latin America. We thank him deeply and wish him well in his retirement. He will remain a friend and a key advisor.”
Bruha was most recently the CFO at Frontier Communications, helping navigate the business through its financial restructuring. Prior to joining Frontier, he held several senior financial leadership roles at Cable & Wireless, including head of corporate development prior to its sale to Liberty Latin America.
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