(ATR) Coca-Cola, Nissan and Bradesco will support the 2016 Olympic torch relay around Brazil.
Around the Ringslearned on Jan. 13 that Coca-Colawould be participating in its thirteenth torch relay, having been a partner since the 1992 Summer Olympics Torch Relay in Barcelona.
Nissan has never participated in a torch relay, and Bradesco, a Brazilian bank, will serve as the relay’s domestic sponsor. Nissan is the official automobile supplier of Rio 2016, while Bradesco is the official banking supplier for the Games.
The three sponsors paid a combined $192 million to sponsor the relay, according to a report from Bloomberg.
Renato Ciuchini, head of marketing for Rio 2016, told Bloomberg that the three sponsors were a "good combination."
"You have Bradesco, which is very strong in every city of Brazil, you have Coke, an international company with Olympic torch experience, and we have Nissan, a huge global conglomerate which is just a startup in Brazil," Ciuchini said.
The design for the torch was chosen from a public contest and - according to the organizing committee - will be released later this year.
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Olympic-Savvy McDonald's CEO Steps Aside
(ATR) McDonald's, an official sponsor of the Olympic Games since 1976, has elected a new president and CEO -- Steve Easterbrook.
In a statement released on Wednesday, McDonald’s board of directors announced that Don Thompson will officially retire as president and CEO on March 1.
Thompson, who replaced Jim Skinner as president and CEO in 2012, has been closely involved with the Olympic Movement throughout his career at McDonald's.
In 2012, Thompson was a key part of the extension of the McDonald's TOP sponsorship.
"It's tough to say goodbye to the McFamily, but there is a time and season for everything," McDonald's quoted Thompson as saying. "I am truly confident as I pass the reins over to Steve that he will continue to move our business and brand forward."
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Written by Aaron Bauerand Nicole Bennett
Homepage photo: Getty Images
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