Cleveland-Cliffs announces executive management promotions

Cleveland-Cliffs Inc., a steel producer and iron ore pellet provider that is based in Cleveland, has announced the promotion of three people at the executive level, effective next month. The announcement comes as Cleveland-Cliffs seeks to broaden its raw material portfolio by expanding its scrap recycling presence under its newly created division named Cleveland-Cliffs Services.

Clifford T. Smith, currently executive vice president and chief operating officer at Cleveland-Cliffs, has been promoted to executive vice president and president of Cleveland-Cliffs Steel. He will continue to lead operations for all business segments, including steelmaking, tooling and stamping and tubular components. Smith joined Cleveland-Cliffs in 2003. He has served as chief operating officer and executive vice president for business development since 2019. Before joining Cleveland-Cliffs, Smith held mine management positions with Asarco, Southern Peru Copper Corp. and Amax Coal. He received a bachelor’s in mining engineering from the South Dakota School of Mines and Technology.

Keith A. Koci, currently executive vice president and chief financial officer at Cleveland-Cliffs, has been promoted to executive vice president and president of Cleveland-Cliffs Services. Koci will assume corporate responsibility for procurement, logistics, IT and scrap recycling. He will lead the growth of Cleveland-Cliffs’ raw material portfolio, with a primary emphasis on expanding the company’s presence in the domestic scrap recycling market. Koci joined Cleveland-Cliffs in 2019 and has served as executive vice president and chief financial officer for his entire tenure. Before joining the company, Koci served as senior vice president and chief financial officer for Metals USA. Koci graduated from the University of Illinois with a bachelor’s degree in business administration.

Celso L. Goncalves, currently senior vice president of finance and treasurer at Cleveland-Cliffs, has been promoted to executive vice president and chief financial officer of the company. He will lead the financial organization for Cleveland-Cliffs, assuming responsibility for finance, accounting, tax, treasury and investor relations. He will also continue to lead strategic corporate and business development initiatives. Before joining Cleveland-Cliffs, Celso Goncalves worked in investment banking at Deutsche Bank in New York and Jefferies in New York and São Paulo. Goncalves earned his MBA from the Tepper School of Business at Carnegie Mellon University and his bachelor’s degree from the Marshall School of Business at the University of Southern California.

All three individuals will report directly to Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs.

“Today’s announcement represents the formation of the ideal leadership structure for our recently transformed company going forward, with promotions to the three members of my core team,” Lourenco Goncalves says. “Cliff Smith, Keith Koci and Celso Goncalves have been critical contributors to our remarkable transformation over the past two years, and I will rely on them to continue to execute on our strategic objectives. I plan to be in this seat for the long term, and the collaboration of these three executives and their work with me are paramount to the continued success of our company.”