Lourenco Goncalves Biography: Lourenco Goncalves is Chairman, President and CEO of Cleveland-Cliffs Corporation, a leading iron ore pellet producer and steel plate producer in North America. He has served in these roles since August 2014 and has transformed the company into a leading player in the U.S. steel industry.
Under Lourenco Goncalves’ leadership, Cleveland-Cliffs has undergone significant strategic change to position itself as a major player in the U.S. steel industry. Key steps have been the acquisitions of several large companies, including AK Steel in March 2020 and ArcelorMittal USA in December 2020. These acquisitions have expanded the company’s integrated steel production capacity. In November 2021, Cleveland-Cliffs acquired Ferrous Processing and Trading Company, a leader in scrap metal recycling, further expanding its raw materials portfolio. Most recently, the company strengthened its market presence in North America with the acquisition of Canada-based Stelco Holdings Inc. in November 2024.
In addition to acquisitions, Cleveland-Cliffs has made significant investments in sustainability and innovation by building a direct reduction plant in Toledo, Ohio, which began operations in November 2020. The plant produces hot briquetted iron (HBI), an environmentally friendly metal feedstock designed to reduce greenhouse gas emissions. The move is in line with Gonsalves’ commitment to reduce the company’s carbon footprint while maintaining high-quality steel production.
Lourenco Goncalves Biography/Wikipedia
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Lourenco Goncalves Early life and Nationality
Lourenco Goncalves was born in Rio de Janeiro, Brazil in 1968 and holds Brazilian nationality. Growing up in a poor area where his mother worked as a teacher and his father was absent instilled in him a strong work ethic and determination to succeed.
Lourenco Goncalves Family background
Details of Gonçalves’ family life are relatively private. It is known that his mother was a teacher, which may have influenced his focus on education and personal development. There is limited information about his father, suggesting that he was absent while he was growing up.
Lourenco Goncalves Education
Goncalves completed his higher education in Metallurgical Engineering with a Bachelor’s degree from the Military Engineering Institute in Rio de Janeiro. He continued his studies with a Master’s degree in Metallurgical Engineering at the Federal University of Minas Gerais in Belo Horizonte, Brazil. This solid education equipped him with the technical expertise necessary for his future endeavors in the steel and mining sector.
Lourenco Goncalves Career
Goncalves began his professional career in Brazil working for Companhia Siderúrgica Nacional (CSN), a leading steel and mining company. At CSN, he held various positions in operations and sales, gaining extensive experience in the industry.
Leadership Positions
In 2001, Goncalves became President and CEO of California Steel Industries, Inc., a position he held for five years. His leadership was characterized by significant improvements in operational efficiency and market expansion. He then became Chairman, President and CEO of Metals USA Holdings Corp., where he led the company for more than a decade, driving significant growth and profitability.
Cleveland-Cliffs Corporation
In August 2014, Goncalves became Chairman, President and CEO of Cleveland-Cliffs Corporation. At the time, the company faced financial challenges and a volatile market environment. Gonsalves implemented a strategic turnaround plan focused on debt reduction, cost management, and operational efficiencies. Under his leadership, Cleveland-Cliffs transformed from a major supplier of iron ore into a fully integrated steel producer. Key acquisitions during his tenure included AK Steel in March 2020 and ArcelorMittal USA in December 2020, making Cleveland-Cliffs the largest flat steel producer in North America.
Lourenco Goncalves Net Worth
Total compensation of Lourenco Gonsalves as Chairman, President, and CEO of Cleveland-Cliffs Corporation as of 2023. His total salary was approximately $24.2 million. This included a base salary of $2.1 million, a bonus of $10.1 million, stock-based compensation of $11.8 million, and other compensation totaling $112,655.
His net worth is estimated to be at least $27.37 million (as of 2025) based on his ownership of 2,759,089 shares of Cleveland-Cliffs stock.
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Lourenco Goncalves Personal Life
Gonsalves leads a relatively private life. He is known for his dedication to his work and his contributions to the steel industry. Details regarding his family life, including information about his wife, have not been made public.
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