Lazcano will stay on as CFO of the EBX Group but resign his post at EBX Brasil SA, a non-operational unit that the group is winding down, according to an EBX press statement.

Batista, the founder and vital force behind the oil, energy, port, shipbuilding and mining group, has seen the value of its companies in the market crumble after promises of oil and mining riches fell short of expectations.

Last week, Batista quit as chairman of MPX Energia SA, the embattled EBX Group's most promising company.

The magnate, who branded all his companies with an "X" for "the multiplication of wealth," is attempting to restructure his companies to alleviate debt woes and other problems that have slashed more than $20 billion (13.40 billion pounds) from his holdings in the group.

(The story is corrected to reflect Lazcano leaving EBX Brasil and staying at EBX Group)

(Reporting by Alonso Soto; Editing by Lisa Shumaker)