Cleveland-Cliffs promotes CFO Celso Goncalves to president and board

Cleveland-Cliffs Inc. (NYSE: CLF) has promoted Celso Goncalves from Executive Vice President and Chief Financial Officer to President and Chief Financial Officer, and appointed him to the company's Board of Directors, effective immediately.

Celso Goncalves has served as Executive Vice President and CFO since 2021 and has been with the company since 2016. Before joining Cleveland-Cliffs, he held investment banking positions at Deutsche Bank and Jefferies.

Lourenco Goncalves will continue in his role as Chairman and Chief Executive Officer, relinquishing the title of President as part of the leadership change.

Lead Director Mike Michael said in a statement that Celso Goncalves "has been instrumental in helping transform the Company into the largest producer of flat-rolled steel in North America, enhancing financial flexibility, managing capital allocation initiatives, and supporting the execution of the Company's strategic growth and integration objectives."

Lourenco Goncalves described the promotion as "the beginning of a thoughtful and deliberate leadership transition toward the future of Cleveland-Cliffs," while stating he remains "fully committed to leading this Company for years to come."

Cleveland-Cliffs is headquartered in Cleveland, Ohio, and employs approximately 25,000 people across operations in the United States and Canada.

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