Vivara CEO, Nelson Kaufman, resigns from his position and assumes chairmanship of the board

Company restructuring

Vivara also appointed Carolina Lacerda as a counselor in one of the two seats left vacant with the resignation, on Friday (22), of Anna Chaia and Tarcila Ursini. Internal sources say that Kaufman spent the week talking to investors, analysts and investment bankers and that the businessman explained what he meant when he announced plans to internationalize the company. According to Kaufman, the intention is not to compete with companies from the USA and Europe, but rather to focus on Latin American markets whose dynamics are more similar to the Brazilian market.

_{Vivara bag (Photo: reproduction/Instagram/@vivaraonline)}

Drop in shares previously

Last month, Vivara’s board elected Kaufman as chief executive, resulting in a drop in the company’s shares amid concerns about the company’s governance and future growth strategy. Since the announcement, shares have fallen by more than 18%, with the fourth quarter earnings also being closely monitored. It is also important to highlight that last week, Kaufman increased his stake in Vivara from 25% to 27%, resulting in a purchase of R$90 million.

After the announcement, this Monday (25) the company’s shares rose by around 2.75%. The speech about the company’s internationalization was the target of criticism a few weeks ago, reinforcing investors’ negative view of Kaufman’s appointment as CEO of Vivara.

Featured photo: Vivara store (Reproduction/ Shopping Mueller)