Millicom CEO Resigns, Replacement Announced

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­Millicom International has announced that its President and CEO, Mikael Grahne is to step down from the position at the end of October. He is being replaced by Hans-Holger Albrecht, currently the President and CEO of Modern Times Group, an entertainment broadcasting group.

Hans-Holger has also been a member of the Millicom Board of Directors since May 2010 and will step down from this role with immediate effect.

Mikael Grahne has served as Millicom's President and CEO since March 2009. He joined Millicom in February 2002 as Chief Operating Officer.

Allen Sangines-Krause, Chairman of the Millicom Board of Directors, commented: "Hans-Holger is the perfect choice to take on the CEO role at Millicom as we build on our success to date. Not only does Hans-Holger have the proven international management expertise and track record to take Millicom into the next phase of its development, but the business cultures of MTG and Millicom are very similar."

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