STXNEWS LATAM-Brazil's Votorantim shakes up management

Sept 25 Thu Jan 9, 2014 6:22pm EST

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Sept 25(Reuters) - Brazil's largest industrial conglomerate, Votorantim, said on Thursday it will replace its chief executive, Raul Calfat, as part of a drive to boost transparency and decentralize management and strategic decision.

Calfat will move to a non-executive position as chairman of the board of Votorantim Participacoes SA, while Votorantim Industrial's chief financial officer, João Miranda, will become its general director, the company said in a statement.