Cleveland-Cliffs Inc. Appoints Ralph Michael as Lead Director

Company Leadership Changes - Cleveland-Cliffs Inc. has appointed Ralph "Mike" Michael III as Lead Independent Director of the Board, effective immediately, succeeding Douglas Taylor who resigned due to a change in professional circumstances [1] - Lourenco Goncalves, Chairman, President, and CEO of Cleveland-Cliffs, expressed gratitude for Douglas Taylor's contributions and highlighted Mike Michael's strategic perspective and extensive knowledge of the steel industry as beneficial for the company [1] - Edilson Camara has been named Chairman of the Compensation and Organization Committee, replacing Mr. Taylor, and is recognized for his reputation among CEOs and Boards globally [1] Company Overview - Cleveland-Cliffs is a leading North America-based steel producer, focusing on value-added sheet products, particularly for the automotive industry [1] - The company is vertically integrated, covering the entire process from iron ore mining to primary steelmaking and downstream finishing [1] - Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada [1] Financial Performance - In 2021, Cleveland-Cliffs reported revenues of $20.40 billion and a net income of $3.0 billion [1]