---
schema_version: "secwatch.filing_event.v1"
accession: "0000764065-21-000191"
form_type: "8-K"
ticker: "CLF"
cik: "0000764065"
company_name: "CLEVELAND-CLIFFS INC."
filed_at: "2021-08-30T23:59:59+00:00"
generated_at: "2026-06-29T07:08:55.451045+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Cleveland-Cliffs promotes three executives; Goncalves named CFO effective Sept 1

## Summary
- Clifford Smith promoted to EVP & President, Cleveland-Cliffs Steel; Keith Koci to EVP & President, Cleveland-Cliffs Services; Celso Goncalves to EVP, CFO.
- Koci will lead scrap recycling expansion under new Cleveland-Cliffs Services division.
- Goncalves (son of CEO) receives $550k base salary, 100% target cash incentive, 200% LTI target.
- Board grants conflict-of-interest waiver for Goncalves due to familial relationship with CEO.
- All promotions effective September 1, 2021.

## SEC filing metadata
- accession: 0000764065-21-000191
- form_type: 8-K
- ticker: CLF
- cik: 0000764065
- company_name: CLEVELAND-CLIFFS INC.
- filed_at: 2021-08-30T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 5.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764065/000076406521000191/0000764065-21-000191-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764065/000076406521000191/clf-20210827.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000764065-21-000191
- JSON: https://secwatch.observer/filing/0000764065-21-000191.json
- Plain text: https://secwatch.observer/filing/0000764065-21-000191.txt

## Key facts
- Executive change
  Celso L. Goncalves Jr. was elected as Executive Vice President, Chief Financial Officer at CLEVELAND-CLIFFS INC..
  - Action: elected
  - Role: Executive Vice President, Chief Financial Officer
  source text: On August 27, 2021, the Board of Directors of Cleveland-Cliffs Inc. (the “Company”) elected Celso L. Goncalves Jr., age 33, as Executive Vice President, Chief Financial Officer of the Company, effective September 1, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764065/000076406521000191/0000764065-21-000191-index.htm
- Executive change
  Keith A. Koci was elected as Executive Vice President & President, Cleveland-Cliffs Services at CLEVELAND-CLIFFS INC..
  - Action: elected
  - Role: Executive Vice President & President, Cleveland-Cliffs Services
  source text: On August 27, 2021, the Board of the Directors of the Company elected Keith A. Koci, age 56, as Executive Vice President & President, Cleveland-Cliffs Services, effective September 1, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764065/000076406521000191/0000764065-21-000191-index.htm
- Executive change
  Clifford T. Smith was elected as Executive Vice President & President, Cleveland-Cliffs Steel at CLEVELAND-CLIFFS INC..
  - Action: elected
  - Role: Executive Vice President & President, Cleveland-Cliffs Steel
  source text: On August 27, 2021, the Board of the Directors of the Company elected Clifford T. Smith, age 61, as Executive Vice President & President, Cleveland-Cliffs Steel, effective September 1, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764065/000076406521000191/0000764065-21-000191-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.