Cleveland-Cliffs promotes Celso Goncalves
Cleveland-Cliffs has promoted executive vice president and chief financial officer (CFO) Celso Goncalves to serve as president and CFO, and appointed him to the company's board of directors, effective immediately. The appointment marks an important step in the evolution of Cleveland-Cliffs' leadership and reflects the board's confidence in Celso Goncalves' proven leadership, strategic vision and substantial contributions to the company's success. As part of this promotion, Lourenco Goncalves will continue to lead the company as chairman and chief executive officer (CEO), relinquishing the title of president.
Cleveland-Cliffs announces promotion of chief financial officer Celso Goncalves from executive vice president to president and the appointment to its board of directors
Celso Goncalves has served as executive vice president and CFO since 2021 and has been with the company since 2016. Prior to joining Cleveland-Cliffs, he held investment banking positions at Deutsche Bank and Jefferies.
Cliffs’ lead director, Mike Michael, said, “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 recognise and reward his performance with this well-deserved promotion.”
Lourenco Goncalves, Cliffs’ chairman and CEO, said, "To those following Cliffs for a long time, this appointment should come as no surprise. 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. His elevation to president and his appointment to our board are natural progressions that recognise both his outstanding performance and his increasing leadership responsibilities across the enterprise.”
Lourenco Goncalves concluded, "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. I will continue to drive our strategy and guide Cleveland-Cliffs through our next phase of delivering stronger and more sustainable results. Celso's expanded role positions us exceptionally well for the future, ensuring continuity in the execution of the disciplined strategy that has transformed Cleveland-Cliffs into the industry leader it is today."