The Nomination Committee, appointed by major shareholders in Millicom, is responsible for determining the number of members of the Board of Directors, preparing proposals for the election or re-election, terms of appointment and remuneration of directors of the Board, Chairman of the Board, election of the external auditor and its remuneration, as well as a proposal on the Chairman of the Annual General Meeting. The Committee's charter is based on the requirements of the Swedish Code of Corporate Governance, as described further below.
The initial Nomination Committee, for the period starting after the 2018 Annual General Meeting (2018 AGM), was formed during July 2018 in consultation with the larger shareholders of the Company as per 20 June 2018 and in accordance with the resolution of the 2018 AGM. It was comprised of Cristina Stenbeck on behalf of Kinnevik AB (who was also appointed by the Committee as Chairman), John Hernander on behalf of Nordea Investment Funds, and Scott Cobb appointed by Southeastern Asset Management.
On 14 March 2019, the Nomination Committee announced changes in its composition. The Nomination Committee is currently comprised of Georgi Ganev on behalf of Kinnevik AB, John Hernander on behalf of Nordea Investment Funds, and Daniel Sievers, appointed by Fiduciary Management, Inc. The three members of the Nomination Committee have been appointed by shareholders that jointly represent approximately 45 percent of the total shares in Millicom in March 2019. The members of the Nomination Committee will appoint a Nomination Committee Chairman at their first meeting.
Under the terms of the Nomination Committee charter, the Nomination Committee should consist of at least three members, with a majority representing the largest shareholders of the Company. The Nomination Committee charter is attached below:
No remuneration is currently paid to the members of the Nomination Committee. However, Millicom shall bear reasonable expenses related to the assignment of the Nomination Committee.Shareholders wishing to contact the Nomination Committee in order to propose candidates for election to the Board of Directors of Millicom should submit their proposal in writing to the Company Secretary, Millicom International Cellular S.A., 2 rue du Fort Bourbon, L-1249 Luxembourg, Luxembourg.