2018 was a watershed year for Millicom. The company returned to solid top line growth as the
strategy of monetizing mobile data, building our cable network, preparing for convergence,
and growing B2B continued yielding positive results.
Details of the effective execution of these four key strategic building blocks are contained
in the strategy section on pages 9 to 15 of the report.
We accelerated the build and deployment of high-speed data networks in Central and South
America, and acquired Cable Onda in Panama during the last quarter of 2018.
We continued to focus on customer service and experience which included the implementation
during the year of Net Promoter Score (NPS) as a key performance indicator measuring each
customer touch point and segment.
Working in emerging markets influences our approach to business growth. In these developing
economies and societies we must integrate our business strategy and corporate responsibility
efforts to create shared value and promote sustainable development for all our stakeholders.
We can't accomplish all our goals without the dedication and skills of our people.
During the year, we continued nurturing our strong company culture, which our people
refer to as “Sangre Tigo”.
Millicom understands the need to remain vigilant in the area of governance, compliance
and business ethics. We believe Millicom and our Tigo brands should, and can, lead the
way in these areas in all our markets. The Governance section of this report sets out
Millicom's framework, approach and commitment to strong corporate governance. During
2018, we strengthened our Anti-Bribery Anti-Corruption policies and resources and
enhanced our Anti-Money Laundering tools, systems, processes, and training to allow
Millicom to more rapidly assess potential problems. We also incorporated compliance
factors into executive incentive programs and developed a three-year strategic plan to
enhance our Information Security programs.
Leadership for our company drives its success. On behalf of the Board of Directors, I
would like to thank Mauricio Ramos, our CEO, and his executive team for their dedication
and drive, and for inspiring every colleague to make The Digital Lifestyle™ a
reality for millions of customers in ways that benefit all our stakeholders.
As I step out of my role as Board Chair in early 2019 and pass the mantle to José
Antonio Ríos García, I am confident Millicom's leadership will continue to position the
business to create shareholder value, rewarding employment opportunities, and prosperity
for the communities where we operate.
Tom BoardmanFormer Chairman of the Board of Directors
Chairman's Message
Since joining the Board in May 2017, I have witnessed firsthand the strong, steady
leadership of Tom Boardman, as well as the great strides Millicom has made in
executing its strategy. On behalf of the Board, I thank Tom for all he has done to
advance the company's vision, mission and purpose.
In January 2019, Tom passed the baton of Millicom's Chairmanship to me. Given the
company's increased focus on Latin America, I look forward to drawing on my own
experience both in the telecommunications sector and in the region, to help
Millicom's senior leadership team as they strive to advance the company's purpose
and create value for shareholders.
Having already visited several of Millicom's operations, I remain impressed by the
dedication of our employees, and the clear and ethical purpose evident in the
strategic and operating decisions the company makes every day. Our robust business
strategy and corporate responsibility framework have laid a solid foundation for
even greater success moving forward. I welcome the opportunity to serve as the
company's Chairman and look forward to doing my part to ensure continued success and
growth for all our stakeholders.
Thank you,
José Antonio Ríos GarcíaChairman
of the Board of Directors
