Cleveland-Cliffs Management
Management criteria checks 2/4
Cleveland-Cliffs' CEO is C. Goncalves, appointed in Aug 2014, has a tenure of 10.42 years. total yearly compensation is $26.18M, comprised of 8.1% salary and 91.9% bonuses, including company stock and options. directly owns 1.06% of the company’s shares, worth €51.60M. The average tenure of the management team and the board of directors is 3.3 years and 7.6 years respectively.
Key information
C. Goncalves
Chief executive officer
US$26.2m
Total compensation
| CEO salary percentage | 8.1% |
| CEO tenure | 10.4yrs |
| CEO ownership | 1.1% |
| Management average tenure | 3.3yrs |
| Board average tenure | 7.6yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | -US$461m |
| Jun 30 2024 | n/a | n/a | US$44m |
| Mar 31 2024 | n/a | n/a | US$389m |
| Dec 31 2023 | US$26m | US$2m | US$398m |
| Sep 30 2023 | n/a | n/a | US$337m |
| Jun 30 2023 | n/a | n/a | US$226m |
| Mar 31 2023 | n/a | n/a | US$474m |
| Dec 31 2022 | US$18m | US$2m | US$1b |
| Sep 30 2022 | n/a | n/a | US$2b |
| Jun 30 2022 | n/a | n/a | US$4b |
| Mar 31 2022 | n/a | n/a | US$4b |
| Dec 31 2021 | US$24m | US$2m | US$3b |
| Sep 30 2021 | n/a | n/a | US$2b |
| Jun 30 2021 | n/a | n/a | US$743m |
| Mar 31 2021 | n/a | n/a | -US$33m |
| Dec 31 2020 | US$19m | US$2m | -US$123m |
| Sep 30 2020 | n/a | n/a | -US$122m |
| Jun 30 2020 | n/a | n/a | -US$20m |
| Mar 31 2020 | n/a | n/a | US$264m |
| Dec 31 2019 | US$16m | US$1m | US$295m |
| Sep 30 2019 | n/a | n/a | US$855m |
| Jun 30 2019 | n/a | n/a | US$963m |
| Mar 31 2019 | n/a | n/a | US$1b |
| Dec 31 2018 | US$15m | US$1m | US$1b |
Compensation vs Market: C.'s total compensation ($USD26.18M) is above average for companies of similar size in the German market ($USD3.25M).
Compensation vs Earnings: C.'s compensation has increased whilst the company is unprofitable.
CEO
C. Goncalves (66 yo)
10.4yrs
Tenure
US$26,183,928
Compensation
Mr. C. Lourenco Goncalves has been the Chairman, Chief Executive Officer and President at Cleveland-Cliffs Inc. since August 07, 2014. Mr. Goncalves has experience in the metals and mining industries, as w...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 10.4yrs | US$26.18m | 1.06% € 51.6m | |
| Executive VP & CFO | 3.3yrs | US$5.74m | 0.035% € 1.7m | |
| Executive VP | 11.8yrs | US$5.38m | 0.086% € 4.2m | |
| Executive VP & President of Cleveland-Cliffs Steel | 3.3yrs | US$7.81m | 0.12% € 6.1m | |
| Executive VP & President of Cleveland-Cliffs Services | 3.3yrs | US$5.90m | 0.064% € 3.1m | |
| Executive Vice President of Operations | 2.3yrs | US$4.03m | 0.097% € 4.7m | |
| Senior VP | 4.8yrs | no data | 0.0069% € 337.0k | |
| Executive Vice President of Technology | 2.4yrs | no data | no data | |
| Vice President of Investor Relations | no data | no data | no data | |
| Director of Corporate Communications | 12.7yrs | no data | no data | |
| Executive VP of Human Resources & Labor Relations | 1yr | no data | no data | |
| Executive Vice President of Environmental & Sustainability | 5.7yrs | no data | 0.030% € 1.5m |
3.3yrs
Average Tenure
58.5yo
Average Age
Experienced Management: CVA's management team is considered experienced (3.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 10.5yrs | US$26.18m | 1.06% € 51.6m | |
| Independent Director | 4.8yrs | US$316.49k | 0.040% € 2.0m | |
| Independent Director | 10.3yrs | US$329.99k | 0.026% € 1.3m | |
| Independent Director | 10.5yrs | US$299.99k | 0.053% € 2.6m | |
| Independent Director | 4.8yrs | US$299.99k | 0.021% € 1.0m | |
| Independent Director | 18yrs | US$299.99k | 0.020% € 965.7k | |
| Lead Independent Director | 10.5yrs | US$419.99k | 0.020% € 991.0k | |
| Independent Director | no data | no data | 0.0029% € 143.2k | |
| Independent Director | 1yr | no data | 0.014% € 673.0k | |
| Independent Director | less than a year | no data | 0.0029% € 139.8k |
7.6yrs
Average Tenure
66yo
Average Age
Experienced Board: CVA's board of directors are considered experienced (7.6 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/01/21 07:42 |
| End of Day Share Price | 2025/01/21 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
Cleveland-Cliffs Inc. is covered by 42 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ishan Majumdar | Baptista Research |
| Anthony Robson | BMO Capital Markets Equity Research |
| Tristan Gresser | BNP Paribas Exane |