Albemarle (ALB) Announces Election of New Board Chairman

November 8, 2016 6:27 AM EST

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The board of directors of Albemarle Corporation (NYSE: ALB) announced its decision to elect president and chief executive officer, Luke Kissam, as chairman, effective November 7, 2016. He assumes this title in addition to his current responsibilities as president and chief executive officer. Kissam succeeds Jim Nokes, who will continue to serve on the board of directors and will act as lead independent director.

"It has been my distinct honor to serve as chairman of the board of directors, and I am confident in Luke's ability to lead this board. In his new role as chairman, he will help ensure leadership continuity as Albemarle grows. Luke and the management team under his leadership deserve the highest praise for their roles in transforming Albemarle through the acquisition, integration and growth of the lithium business acquired from Rockwood Holdings in early 2015," said Nokes.

Kissam began his role as chief executive officer of Albemarle in September 2011 and was elected to the board of directors in November 2011.

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