Cleveland-Cliffs announced that its Board of Directors has promoted Executive Vice President and Chief Financial Officer Celso Goncalves to President and Chief Financial Officer, effective immediately, and appointed him to the company’s Board of Directors. As part of the promotion, Lourenco Goncalves will continue to lead the company as Chairman and Chief Executive Officer, relinquishing the title of President.
Celso Goncalves has served as Executive Vice President and Chief Financial Officer since 2021 and has been with the company since 2016. Before joining Cleveland-Cliffs, he held investment banking positions at Deutsche Bank and Jefferies. The company said his expanded role recognizes his contributions to transforming Cleveland-Cliffs into the largest producer of flat-rolled steel in North America, along with his work on financial flexibility and capital allocation initiatives.
KEY QUOTES:
“During his tenure at Cleveland-Cliffs, Celso 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. The Board is very pleased to recognize and reward his performance with this well-deserved promotion.”
Mike Michael, Lead Director, Cleveland-Cliffs
“In his 10 years here, Celso has earned the trust and respect of our Board, our management team, our employees, and our investors through his unwavering commitment to Cleveland-Cliffs. He has been a key architect of every major strategic and financial accomplishment we have achieved over the past decade. This appointment also represents the beginning of a thoughtful and deliberate leadership transition toward the future of Cleveland-Cliffs. To be perfectly clear, I remain fully committed to leading this Company for years to come.”
Lourenco Goncalves, Chairman and Chief Executive Officer, Cleveland-Cliffs
