Vivara leads gains on Brazil stock index after naming new CEO

About this update from Vivara Participacoes Sa

** 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%

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