Market Segment
February 24, 2026
Cliffs taps former AK Steel chairman as new lead director
Written by Ethan Bernard
Cleveland-Cliffs Inc. has appointed Ralph “Mike” Michael III, former chairman of AK Steel, as lead independent director of its board, effective immediately.
Michael succeeds Douglas Taylor. This follows the board’s acceptance of Taylor’s resignation because of a “change in his professional circumstances,” according to a statement released on Monday.
The Cleveland-based steelmaker said under the company’s corporate governance guidelines, Taylor “submitted a mandatory resignation following his acceptance of a new professional role,” which was not named.
“Mike was the chairman of AK Steel, where he guided the company through its sale to Cleveland-Cliffs,” Lourenco Goncalves, Cliffs’ chairman, president, and CEO, said. “His extensive knowledge of the steel industry, capital markets, and corporate governance makes him exceptionally well suited to serve as lead director.”
Recall that Cliffs completed its acquisition of Ohio-based AK Steel in 2020.
Additionally, Cliffs said Edilson Camara will serve as chairman of the board’s compensation and organization committee. He replaces Taylor in this position.
Camara is the CEO Emeritus at Switzerland-based Egon Zehnder, an executive search and leadership advisory firm, and a senior partner in the firm’s industrial practice group.
