---
title: "Celso Goncalves named President and CFO at Cleveland-Cliffs; Lourenco Goncalves remains CEO"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293796217.md"
description: "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."
datetime: "2026-07-24T20:43:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293796217.md)
  - [en](https://longbridge.com/en/news/293796217.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293796217.md)
---

# Celso Goncalves named President and CFO at Cleveland-Cliffs; Lourenco Goncalves remains CEO

**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

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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