Lourenco Goncalves serves as the CEO of Cleveland-Cliffs Inc., a leading iron ore pellet producer and flat-rolled steel manufacturer in North America. Born in 1968, Lourenco holds a Master's degree in Business Administration from the University of Pennsylvania, complemented by...
Lourenco Goncalves serves as the CEO of Cleveland-Cliffs Inc., a leading iron ore pellet producer and flat-rolled steel manufacturer in North America. Born in 1968, Lourenco holds a Master's degree in Business Administration from the University of Pennsylvania, complemented by over 40 years of experience in the metals and mining industry. He became CEO in August 2014 and has a notable track record, having previously held top positions at Metals USA Holdings Corp. and California Steel Industries. Under his leadership, Cleveland-Cliffs achieved record steel shipments and significantly improved operational costs, while also setting ambitious sustainability goals to reduce greenhouse gas emissions. He is known for having a high level of share ownership in the company, reflecting a strong personal investment in its success—over 44 times his base salary. In 2023, he earned a total compensation of approximately $10 million, primarily focused on performance-based incentives that resonate with the company's growth and stability, showcasing his alignment with shareholder interests. Lourenco’s strategic approach involves understanding risks and opportunities, making him a crucial player in the company’s direction.