Form 8-K · Current Report · Filed 2026-07-24
Cleveland-Cliffs Inc. Appoints New President and CFO
On July 21, 2026, Cleveland-Cliffs Inc. appointed Celso L. Goncalves Jr. as President and Chief Financial Officer, effective immediately. Lourenco Goncalves, the current Chairman and CEO, will no longer hold the title of President. The Compensation and Organization Committee approved an increase in Celso Goncalves' annual base salary to $1,000,000 and extended his 'Continuation Period' severance multiple to three years.
- Filer
- Cleveland-Cliffs Inc. CLF · NYSE
- Filed
- Accession
- 0000764065-26-000102
- CIK
- 0000764065
- Signal
- High impactBasic Materials
- Source
- Official filing on sec.gov ↗
Items reported
Reported Item
Market reaction
Close before filing
$10.96
Next session
+11.8%
Since filing
+5.1%
Latest close
$11.52
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from CLF reporting the same item, with the next session's move:
Insider tape
Within 45 days of this filing, CLF insiders reported 2 Form 4 transactions — net buying of $80K.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs Inc. is a leading integrated producer of flat-rolled steel products in North America. The company operates through a robust supply chain that spans a wide range of steel manufacturing processes, including mining, pelletizing, and direct reduced iron production. As a major supplier of steel to various industries, Cleveland-Cliffs serves critical sectors such as automotive, construction, and manufacturing, providing essential materials used in the production of vehicles, appliances, and infrastructure projects. Founded in 1847, Cleveland-Cliffs has evolved from a small iron mining operation into a comprehensive steel powerhouse, reflecting its importance to the U.S. economy and robust industrial base. The firm's strategic acquisitions and production capabilities enhance its position in the market, allowing it to reduce reliance on third-party suppliers and maintain greater control over the quality of its steel products. Cleveland-Cliffs stands out in the financial market due to its significant impact on raw material supply chains and its role in supporting industrial growth and development across North America.
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