American steel producer Cleveland-Cliffs has promoted its chief financial officer (CFO), Celso Goncalves, from executive vice president to President of the company.
Goncalves has served as CFO and executive vice president since 2021 and has also been appointed to the Board of Directors.
Mike Michael, Cleveland-Cliffs’ lead director, 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.”
Before joining Cleveland-Cliffs in 2016. Goncalves held investment banking positions at Deutsche Bank and Jefferies.
Cleveland-Cliffs CEO, Lourenco Goncalves, added: "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.”
