Cleveland-Cliffs Promotes Celso Goncalves To Succeed Keith Koci As CFO - Quick Facts

Cleveland-Cliffs Inc. (CLF) announced Monday the promotion of three key leaders at the executive level, effective September 1, 2021. The announcement comes as Cliffs seeks to broaden its already robust raw material portfolio by expanding its scrap recycling presence, an activity that will fall under a newly created division named Cleveland-Cliffs Services.

The ongoing steel business stays within Cleveland-Cliffs Steel, an already existing Cleveland-Cliffs Inc.'s division.

Celso Goncalves, currently SVP, Finance & Treasurer, has been promoted to EVP, Chief Financial Officer. He will lead the financial organization for Cleveland-Cliffs Inc., assuming executive responsibility for Finance, Accounting, Tax, Treasury and Investor Relations.

Goncalves joined Cleveland-Cliffs in 2016, and has served as SVP, Finance & Treasurer since March 2020. He joined the company as Assistant Treasurer in September 2016. Prior to joining Cliffs, he worked in Investment Banking at Deutsche Bank in New York and at Jefferies in New York and São Paulo, Brazil.

Keith Koci, currently EVP, Chief Financial Officer, has been promoted to EVP & President, Cleveland-Cliffs Services.

Clifford Smith, currently EVP, Chief Operating Officer, has been promoted to EVP & President, Cleveland-Cliffs Steel.

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