Millicom names board chair in Colombia

Millicom appointed Juan Antonio Pungiluppi as president of the board of directors of Millicom Colombia Holding S.A.S. The executive took the role after resigning from his board seat at Colombia Telecomunicaciones S.A. ESP BIC, where shareholders must now choose his replacement.

Pungiluppi has served on the board of Tigo Colombia since 2014 and sits on the boards of Fabricato and Fiduciaria Sura. He co-founded private equity firm Teka Capital in 2009 and previously worked as investment vice president at Valorem.

The leadership change comes after Millicom completed the purchase of a 32.5% stake in Coltel on 27 April 2026. The transaction totaled $856,002 million for over 1,108 million shares at $772.38 per share, giving the Luxembourg-based telecommunications group 100% ownership of Movistar Colombia.

Following that buyout, Millicom reorganized Coltel's management on 16 July with eight executive appointments, naming Carlos Blanco Sposito general manager alongside seven vice presidents. The group also replaced Telefonica representatives on Coltel's board with Bart Vanhaeren, Sergio Michelsen, Salvador Escalon, Karim Lesina, Fernando Castillo Mayorga, Luciano Marino, and Alejandro Guerrero.