(Telecompaper) Millicom CEO Hans-Holger Albrecht will be stepping down from year end. The CEO said he wants to develop a number of entrepreneurial projects and return to the media sector. The company's board of directors has started the search process for Albrecht's successor. CFO Tim Pennington will take on the role of interim CEO. He will ensure that key strategic initiatives and priorities for next year will continue to be executed. Albrecht will remain available to assist Pennington and the chairman during the transition and will continue as senior advisor to the chairman of the board as new businesses are built and new products and services are launched. Albrecht became president and CEO of Millicom on 1 November 2012.