Esteban C. Iriarte
About Esteban C. Iriarte
Esteban C. Iriarte (age 53) is an independent director of Array Digital Infrastructure, Inc. (“Array”) since 2022 and currently a private investor. He previously served in senior leadership roles at Millicom International Cellular S.A., including Executive Vice President and Chief Operating Officer for Latin America (2016–2023), CEO of Millicom’s Colombian businesses, and earlier leadership in regional Home and B2B divisions; he also was CEO of Amnet Inc. (2009–2011) and Manager, Operations at Cablevision Inc. (2006–2009). He holds a bachelor’s degree from Universidad Católica Argentina and an MBA from Universidad Austral, Buenos Aires, Argentina .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Millicom International Cellular S.A. | Executive Vice President & Chief Operating Officer (LatAm) | 2016–2023 | Led operations in nine Latin American markets; competitive execution vs incumbents |
| Millicom International Cellular S.A. | CEO, Colombian businesses | Prior to 2016 (dates not specified) | Leadership of country operations |
| Millicom International Cellular S.A. | Head, regional Home and B2B divisions | Prior to CEO role (dates not specified) | Product and segment leadership |
| Amnet Inc. | Chief Executive Officer | 2009–2011 | Broadband/cable/fixed/data services in Central America |
| Cablevision Inc. | Manager, Operations | 2006–2009 | Operations management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SURA Asset Management S.A. de C.V (subsidiary of Grupo SURA; private investment manager) | Board Member | 2016–present | Private company board; no public company directorships disclosed |
Board Governance
- Independence: Iriarte is classified as independent under NYSE standards; the Audit Committee comprises independent directors (Harczak—Chair, Iriarte, Williams) .
- Committee assignments: Audit Committee member (appointed August 1, 2025); Technology Advisory Group (TAG) Committee member; Audit Committee chaired by Harry J. Harczak, Jr.; TAG Committee chaired by LeRoy T. Carlson, Jr. .
- Attendance: The Board held 11 meetings in 2024 (5 regular, 6 special related to strategic alternatives). Each director attended at least 75% of board and applicable committee meetings; Audit Committee met 9 times in 2024 .
- Governance practices: Annual election of directors; prohibition on pledging/hedging by directors/officers; independent director executive sessions; board self-assessment; separated Chair and CEO roles; controlled-company exemptions acknowledged .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Fees Earned (cash) | $283,000 | Includes annual cash retainer, committee retainers, meeting fees; plus incremental monthly compensation related to strategic alternatives ($15,000 per month from Jan–Nov 2024) |
| Stock Awards (fully vested common shares) | $121,976 | Annual equity retainer; paid in common shares; at 2024 grant (May 21, 2024) directors received 2,836 shares based on $43.01 closing price ($120,000 value rounded to whole shares) |
| Total 2024 Director Compensation | $404,976 | Sum of fees earned and stock awards |
Director compensation plan elements (2024):
- Annual cash retainer: $90,000
- Annual equity retainer: $120,000 in fully vested Array common shares (rounded to whole shares; priced at annual meeting date)
- Meeting fees: $1,750 per Board and committee meeting (Audit, LTICC)
- Annual committee retainers: Audit Committee $14,000; Audit Committee Chair $11,000; LTICC Chair $7,000; LTICC member retainers as applicable
- Additional comp for independent directors related to strategic alternatives: $15,000 per month (Jan–Nov 2024)
Performance Compensation
- Not applicable for directors. Array’s non-employee director compensation is cash plus fully vested stock grants; there are no performance-based or option awards for non-employee directors, and none had unvested stock awards or options outstanding at December 31, 2024 .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None |
| Private/non-profit boards | SURA Asset Management S.A. de C.V (2016–present) |
| Interlocks/shared directorships | No director-specific interlocks disclosed for Iriarte. Audit Committee reviews related-person transactions; related-party relationships primarily involve TDS and certain executives/directors (e.g., Sidley Austin LLP legal services; Anthony J.M. Carlson employment), with no Iriarte-specific items disclosed |
Expertise & Qualifications
- Telecom and cable operations leadership across multiple LatAm markets; CEO experience (Amnet) and operations roles (Cablevision) .
- Education: Bachelor’s—Universidad Católica Argentina; MBA—Universidad Austral (Buenos Aires) .
- Board skills: Technology/telecom operating expertise; Audit Committee service; TAG Committee participation (technology oversight) .
Equity Ownership
| Item | Amount |
|---|---|
| Array Common Shares beneficially owned | 9,553 (less than 1% of class) |
| Pledged shares | None indicated; policy prohibits pledging/hedging by directors/officers |
| Unvested director awards outstanding at 12/31/2024 | None (non-employee directors had no unvested stock awards or options outstanding) |
Governance Assessment
- Strengths: Independent Audit Committee membership and oversight (financial reporting, cybersecurity, ESG, related-party transactions); robust director compensation transparency; prohibition on pledging/hedging; regular executive sessions; Iriarte’s deep operating experience adds industry acumen to board deliberations .
- Risks/Considerations: Array is a controlled company (TDS holds ~86.1% of voting power outside director elections), exempting it from certain NYSE independence requirements; significant related-party arrangements with TDS (services, legal counsel, insurance, benefit plans), though these are overseen by the Audit Committee; no disclosed director stock ownership guidelines .
- Engagement signal: Elevated independent director cash compensation in 2024 ($15,000/month for 11 months) tied to strategic alternatives review suggests high board workload and engagement; Iriarte’s appointment to the Audit Committee (Aug 1, 2025) further deepens his governance role post-transaction .
RED FLAGS: Controlled-company governance limits; extensive related-party transactions via TDS (ongoing reliance on TDS services and counsel). Mitigants include independent Audit Committee oversight and explicit prohibition on hedging/pledging .