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Marcelo Benitez received $14.2M in total compensation as CEO of MILLICOM INTERNATIONAL CELLULAR SA in FY2025. The largest component was $5.4M in stock awards. That’s down 59% from FY2024. Source: SEC 20-F.
In fiscal year 2025, Marcelo Benitez, CEO of MILLICOM INTERNATIONAL CELLULAR SA (TIGO), received total compensation of $14.2 million.
Marcelo Benitez's compensation breakdown includes: base salary of $3.4 million, bonus of $5.4 million, stock awards valued at $5.4 million,.
Compared to fiscal year 2024, Marcelo Benitez's total compensation decreased 59% from $34.5 million to $14.2 million.
MILLICOM INTERNATIONAL CELLULAR SA's top 5 named executive officers received combined total compensation of $71.2 million in fiscal year 2025.
The named executive officers disclosed in MILLICOM INTERNATIONAL CELLULAR SA's 2025 proxy statement are:Marcelo Benitez (CEO) with total compensation of $14.2 million, Bart Vanhaeren (CFO) with total compensation of $14.2 million, Salvador Escalón (Group Leadership Team) with total compensation of $14.2 million, Karim Lesina (Group Leadership Team) with total compensation of $14.2 million, and Guillaume Duhaze (Group Leadership Team) with total compensation of $14.2 million.
Source Filing
Executive Record
Marcelo Benitez
CEO
Reported Pay
$14.2M
Summary compensation table total · FY2025
Findings
Reviewing FY2025 compensation of $14.2M against +122% shareholder return and the latest filing-backed pay disclosures.
Reported pay changed -59%; spread versus stock performance is pending computation.
Evidence is sourced from the latest executive compensation filing and return series for TIGO.
Team view
5 executives
CEO
Total PayFY2025
$14.2M
CFO
Total PayFY2025
$14.2M
Group Leadership Team
Total PayFY2025
$14.2M
Group Leadership Team
Total PayFY2025
$14.2M
Group Leadership Team
Total PayFY2025
$14.2M
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01FY2025 total compensation breakdown
$14.2M total compensation
Marcelo Benitez earned $14.2M in FY2025 — here's how that breaks down.
$5.4M
38% of total
$5.4M
38% of total
$3.4M
24% of total
A pay-performance summary will appear here once the verdict loads above.
02Pay changes vs. stock performance
Peer context
Dashed line marks the large-cap median compensation benchmark for companies around $13.4B market cap, based on 312 peers in this size band.
03Recent insider trades by officers and directors
6 trades
04Board composition and compensation for FY2026
This company is expected to file its proxy statement soon.
05Take action on executive compensation
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06For analysts and deep research
Historical compensation data from latest proxy filing
| Year | Executive | Salary | Bonus & Incentive | Stock Awards | Option Awards | Other Adj. | Total |
|---|---|---|---|---|---|---|---|
| 2025 | Marcelo Benitez CEO | $3.43M | $5.45M | $5.37M | $0.00M | $0.00M | $14.2M |
| 2024 | Marcelo Benitez CEO | $5.04M | $13.2M | $16.3M | $0.00M | $0.00M | $34.5M |
Salary = base cash pay. Bonus & Incentive combines annual bonus and non-equity plans. Equity amounts are grant-date fair values. Other Adj. captures pension changes, perquisites, and any reconciliation items so the total matches the reported figure.
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MILLICOM INTERNATIONAL CELLULAR SA (TIGO) — Key Facts
Last updated Apr 4, 2026 · 20-F filed Mar 24, 2026
| CEO | Marcelo Benitez, CEO |
|---|---|
| Fiscal year | FY2025 |
| Total compensation | $14.2M |
| Base salary | $3.4M |
| Stock awards | $5.4M |
| Year-over-year change | -59% |
| Source | 20-F, 2026-03-24 |
Marcelo Benitez, the CEO of MILLICOM INTERNATIONAL CELLULAR SA, received total compensation of $14.2 million in fiscal year 2025. This includes base salary of $3.4 million and stock awards valued at $5.4 million.
Marcelo Benitez's base salary at MILLICOM INTERNATIONAL CELLULAR SA is $3.4 million per year as of fiscal year 2025. However, total compensation including stock awards, bonuses, and other benefits is $14.2 million.
MILLICOM INTERNATIONAL CELLULAR SA's CEO, Marcelo Benitez, earned $14.2 million in total compensation for fiscal year 2025. The majority of this compensation comes from stock awards ($5.4 million) rather than base salary ($3.4 million).