Arcos Dorados reported that its Board of Directors has appointed Marcelo Rabach, 49, as Arcos Dorados' new Chief Executive Officer, effective July 1. According to a release, Rabach succeeds Sergio Alonso, 55, who will remain as a member of the Board of Directors. Prior to his promotion, Rabach was Arcos Dorados' Chief Operating Officer, a position he assumed in August 2015. Rabach was also Divisional President for the NOLAD (North Latin American) Division from 2013 to 2015.

Luis Raganato, 49, who currently serves Arcos Dorados as Divisional President for its Caribbean Division, will succeed Rabach and will be promoted to Chief Operating Officer, also effective July 1.