Investing.com -- MercadoLibre , Inc. (NASDAQ: MELI ) has announced a significant change in its leadership. The company’s board of directors approved the transition of Marcos Galperin, the current President and Chief Executive Officer, to the role of Executive Chairman of the Board. This change is set to take effect on January 1, 2026.

The company also announced that Ariel Szarfsztejn, currently serving as the company’s Commerce President, will assume the roles of President and Chief Executive Officer on the same date.

Szarfsztejn, 43, joined MercadoLibre in 2017 and has held several leadership roles within the company. His past positions include Vice President of Strategy & Corporate Development in 2017, Vice President of Mercado Envios from 2018 to 2020, Senior Vice President and Head of Mercado Envios from 2020 to 2021, and Executive Vice President of Commerce from 2022 to 2023. He holds a Master of Business Administration from Stanford University and graduated cum laude with a degree in Economics from The University of Buenos Aires.

The company stated that Szarfsztejn has no familial ties with any director, executive officer, or person nominated or chosen by the company to become a director or executive officer. There are also no arrangements or understandings with any persons that led to Szarfsztejn’s appointment to his position. Furthermore, there have been no transactions involving Szarfsztejn that would need to be disclosed under the Securities Exchange Act of 1934, as amended.

The company has yet to determine the compensation for Galperin and Szarfsztejn in their new roles. This information will be disclosed in a future report with the Securities and Exchange Commission when appropriate.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.