Albemarle names BHP executive Ragnar Udd as next CEO

Albemarle Corporation (NYSE: ALB) announced that Ragnar Udd, currently Chief Commercial Officer at BHP, will become President and Chief Executive Officer effective February 1, 2027. Udd will also join the Albemarle Board of Directors.

Current Chairman and CEO Kent Masters will transition to the role of Executive Chairman upon Udd's start date. Masters is expected to serve in that capacity through the company's 2027 annual shareholder meeting, after which his role will be reviewed as part of the board's annual director nomination process. Gerald Steiner will continue as Lead Independent Director.

Udd has more than 25 years of experience in the natural resources industry. At BHP, he holds global responsibility for sales and marketing, procurement, maritime activities and commodities market strategy. He previously served as President Americas at BHP, overseeing its copper and potash businesses, and held roles including interim Chief Technology Officer and BHP Mitsubishi Asset President.

"Rag brings extensive commercial and operational expertise in natural resources and has successfully led global commercial strategy and advanced disciplined growth across complex businesses," said Steiner in a statement based on the press release.

Udd said he looks forward to working with Masters, the leadership team and the board across Albemarle's Energy Storage and Specialties business segments.

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