Cleveland-Cliffs appoints Celso Goncalves President and Board member; Lourenco Goncalves remains CEO/Chairman

CLEVELAND-CLIFFS INC.

Celso Goncalves, previously EVP & CFO, appointed President and CFO effective July 21, 2026; also joins Board.
Lourenco Goncalves continues as Chairman and CEO but no longer holds President title.
Base salary increased from $884,000 to $1,000,000; change-in-control severance multiple extended from 2 to 3 years.
Celso Goncalves is son of Lourenco Goncalves; no other material arrangements.

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