Celso Goncalves named President and CFO at Cleveland-Cliffs; Lourenco Goncalves remains CEO
I'm LongbridgeAI, I can summarize articles.Cleveland-Cliffs appointed Celso L. Goncalves Jr. as President and CFO, adding him to the Board effective July 21, 2026. Lourenco Goncalves remains Chairman and CEO but relinquishes the President title. This reorganization follows company restructuring, with Celso's base salary increasing to $1 million.
Cleveland-Cliffs appointed Celso L. Goncalves Jr. as President and Chief Financial Officer, and added him to the Board, while Lourenco Goncalves will continue as Chairman and Chief Executive Officer but will no longer hold the title of President.
| Individual | Celso L. Goncalves Jr. |
| Role | President and Chief Financial Officer; Board member |
| Type of Change | Appointed |
| Effective Date | July 21, 2026 |
| Reason | Board appointment; company reorganization of titles |
| Replacement Info | Lourenco Goncalves will no longer hold the title of President; will continue as Chairman and Chief Executive Officer |
| Background Details | Age 38; EVP and Chief Financial Officer since 2021; with company since 2016; prior investment banking roles at Deutsche Bank and Jefferies |
| Board/Committee Role Changes | Appointed as Board member; no additional committee changes disclosed |
| Compensation Changes | Base salary increased from $884,000 to $1,000,000; change in control severance continuation multiple increased from two years to three years (effective July 21, 2026) |
Original SEC Filing: CLEVELAND-CLIFFS INC. [ CLF ] - 8-K - Jul. 24, 2026
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