Arco Platform Limited announced the management and board changes, effective immediately. Mr. Stelleo Tolda, Chief Operating Officer of MercadoLibre Inc., has been appointed as an independent Director. Mr. Martin Escobari remains on the board as an independent Director. Mr. David Peixoto dos Santos will be transitioning from his position as Chief Financial Officer and has been appointed as a Director; and Mr. Alberto Menache has resigned as Director and member of the audit committee. Mr. Stelleo Tolda is Chief Operating Officer of MercadoLibre Inc. since April 1, 2009. Prior to this appointment, he served as a senior vice president and as country manager of Brazil since 1999.