Sheldon Bruha, Director

Sheldon Bruha is a global finance executive with 30+ years of financial and operational leadership experience in complex, multi-billion US, UK and Latin American companies. He is accomplished in business turnarounds, corporate restructurings, and driving growth through business transformations, efficient capital allocation and M&A. During 2022-2024 he has served as Chief Financial Officer for Millicom, a telecommunications company providing mobile (including data, voice and mobile financial services) and fixed (broadband, data, voice and pay-TV services) to consumers and businesses in 9 Latin American countries, with $6 billion in revenue. During 2018-2021, Mr. Bruha was CFO at Frontier Communications, overseeing strategic management of the financial activities of one of the largest fixed-line communication providers in the U.S., with $7 billion in revenues across 25 states. Frontier provides broadband, data, voice and video services via fibre- and copper-based technologies to consumers, businesses and other telecom carriers.

At Millicom (NASDAQ: TIGO), Mr. Bruha oversaw a comprehensive, company-wide $250 million cost efficiency program, addressing: headcount and salary levels, content costs, operational simplification, size of Miami headquarters via decentralization, OPEX spending controls and capex optimization. Concurrently, he addressed the group’s excessive leverage that accumulated from $2.5 billion of acquisitions prior to his arrival, thereby putting the company on trajectory to decrease leverage from peak of 3.4x to targeted 2.5x in 30-month period.

Throughout his Millicom tenure, Mr. Bruha managed through significant stakeholder uncertainty, including protracted take-private discussions with Apollo Global Management and the accumulation of an influential ownership stake from an activist / industrialist shareholder.

At Frontier (NASDAQ: FYBR), Mr. Bruha oversaw an unprecedented financial restructuring. Frontier had aggressively grown during 2010-2016 via a series of acquisitions that resulted in several integration challenges, financial and operational under-performance, and an overstretched balance sheet. Mr. Bruha led one of the largest-ever telecommunications balance sheet restructurings, implemented through a pre-arranged bankruptcy filing, which reduced debt by $11 billion and interest expense by $1 billion. Concurrent with the balance sheet restructuring, Mr. Bruha helped develop the future capital allocation strategy of the business, emphasizing the attractive financial returns of using the newly established financial flexibility to invest in a $2.5 billion fiber upgrade of existing copper DSL broadband infrastructure. Mr. Bruha then led the reintroduction of Frontier to the capital markets via the company’s re-listing on NASDAQ in April 2021 upon the emergence from bankruptcy.

Prior to joining Frontier, Mr. Bruha held several senior financial leadership roles at Cable & Wireless, including head of corporate development where he led a strategic transformation and re-shaping of the company, positioning the company for its subsequent sale to Liberty Latin America.

Mr. Bruha started his financial career at Lehman Brothers, the global investment bank, and held senior investment banking positions in its New York and London offices, focusing on the telecommunications industry.

During his financial career, Mr. Bruha has operated in diverse economic, business, and cultural environments having been based in the global financial centers of New York and London and having been involved in operations and boards of national Latin American operators of Millicom, small island nations of Cable & Wireless and rural businesses of Frontier.

Mr. Bruha is an honors graduate of Washington University in St. Louis with a bachelor’s degree in business administration.