Arcos Dorados announced the appointment of Sergio Alonso, 52, as its new Chief Executive Officer, effective October 1, 2015. Mr. Alonso succeeds Chairman and Chief Executive Officer Woods Staton, 65, who will remain as Executive Chairman. Prior to his promotion, Mr. Alonso was Arcos Dorados' Chief Operating Officer, a position he assumed in 2007.

Marcelo Rabach, 44, who currently serves Arcos Dorados as Divisional President of its North Latin America Division (NOLAD), will succeed Mr. Alonso and is promoted to Chief Operating Officer, also effective October 1, 2015. Mr. Rabach began his career at McDonald's Argentina 25 years ago and quickly rose from the ranks of crew member to senior leadership positions spanning all four geographies of the company. These include Divisional President in Brazil, Chief Operating Officer in Venezuela and Vice President of Operations Development.

In each of these positions, and in his current role as President of NOLAD, Mr. Rabach has built a reputation for instilling and driving operational excellence and results.