Cleveland-Cliffs Inc. appointed Celso L. Goncalves Jr. as President and Chief Financial Officer, effective July 21, 2026. Lourenco Goncalves will remain as Chairman and CEO, but will no longer hold the title of President. Celso Goncalves's annual base salary was increased to $1,000,000 from $800,000. Cleveland-Cliffs Inc. is a steel producer and mining company.

Cleveland-Cliffs Inc. reported second-quarter 2026 results with revenues of $5.2 billion, a $300 million increase from the prior quarter. The company recorded a GAAP net loss of $134 million, or $0.25 per diluted share, and an adjusted net loss of $115 million. Adjusted EBITDA of $286 million represented a significant improvement over the first quarter. Cleveland-Cliffs is a North America-based steel producer focused on value-added sheet products for the automotive industry.