** Shares in Brazilian jewelry chain Vivara BMFBOVESPA:VIVA3 rise after it announced management changes
** Thiago Lima Borges was tapped as Vivara's new CEO, while Cassiano Lemos da Cunha will be the firm's chief operating officer
** The executives replace Icaro Borrello and Bruno Kruel Denardin, respectively
** Analysts at Santander describe the move as positive, praising Borges' and Cunha's "extensive experience in the sector"
** "This movement strengthens the company's governance, supporting both its short-term challenges, especially the higher inventory levels, and its long-term sustainable growth," they say in a note to clients
** Vivara's shares are up more than 3%, the biggest gainer on Brazil's benchmark stock index Bovespa BMFBOVESPA:IBOV, which rises 0.3%