The invention provides a CPP-GMR device comprising a spacer layer. The spacer layer comprises a first nonmagnetic metal layer and a second nonmagnetic metal layer, each formed of a nonmagnetic metal material, and a semiconductor layer interposed between the first nonmagnetic metal layer and the second nonmagnetic metal layer, and further comprises a work function control layer formed between the first nonmagnetic metal layer and the semiconductor layer and/or between the second nonmagnetic metal layer and the semiconductor layer. The semiconductor layer is an n-type semiconductor, and the work function control layer is made of a material having a work function smaller than that of said first nonmagnetic metal layer, and said second nonmagnetic metal layer. It is thus possible to obtain by far more improved advantages.