Argentina-based e-commerce platform MercadoLibre Inc. said Aug. 7 that Javier Olivan will step down from the board of directors, effective the same day.

In the same filing, the company said its board approved a stock repurchase plan that authorizes MercadoLibre to buy back shares worth of up to $840,000 on Aug. 8.

The board also authorized the company to repurchase shares on June 10, 2020, and June 10, 2021, up to a value of $840,000 in each repurchase.