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      Cliffs CEO ousted

      Cliffs Natural Resources announced Thursday the Company's Board of Directors has now appointed Lourenco Goncalves to the positions of Chairman, President and Chief Executive Officer, effective immediately.

      Goncalves replaces Jim Kirsch who served as Chairman since July 2013, and Gary Halverson who served as CEO since February 2014.

      Goncalves' brings more than 30 years of experience in the metals and mining industries, as well as extensive Board experience in the United States and abroad. He served as Chairman of the Board, President and Chief Executive Officer of Metals USA Holdings Corp., from May 2006 through April 2013, and was President, Chief Executive Officer and a director of the company since February 2003.

      Goncalves also served as a board member of Ascometal SAS, a manufacturer of special steel headquartered in Paris, France, from October 2011 to April 2014.

      Prior to Metals USA, Mr. Goncalves served as President and Chief Executive Officer of California Steel Industries, Inc. from March 1998 to February 2003. From 1981 to 1998 he was employed by Companhia SiderÃrgica Nacional, a leading steel and mining company in Brazil, where he held several positions in operations and sales.