Brazil's mining giant Companhia Vale do Rio Doce (CVRD) announced a major shakeup on Wednesday with the top-level position handed over to another member of the executive board.

Murilo Ferreira was appointed CVRD Incos president and chief executive officer in replacement of Scott Hand, who is retiring, the announcement said.

Since last year's acquisition of Canada's nickel giant Inco, CVRD has become the second largest mining company in the world. It is also the world's largest iron ore exporter.

Ferreira, who remains a member of the CVRD Executive Board, will be responsible for nickel, copper and aluminum businesses.

Leonardo Moretzsohn, formerly director of the Department of Internal Controls of CVRD, replaced Bob Davies as the executive vice-president and chief financial officer.

Scott McDonald took over from Mark Daniel the post of executive vice-president in charge of human resources.

Part of Ferreira's previous responsibilities in CVRD will be reallocated to the other members of the company's executive board, according to the announcement.

The coal business and aluminum operations will be under the care of Jose Lancaster, executive director of non-ferrous minerals.

Gabriel Stoliar, director of planning and control, will be in charge of business development and steel operations.

Executive Director of Corporate Affairs Tito Martins will run the energy sector.

Source: Xinhua