Albemarle Appoints Ragnar Udd as President and Chief Executive Officer
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Ragnar Udd
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Albemarle Corporation said Ragnar “Rag” Udd has been appointed president and chief executive officer, effective February 1, 2027. Udd will also join the Albemarle board of directors. Kent Masters, chairman and CEO, will transition to the role of executive chairman of the board upon Udd joining the company. Gerald Steiner will continue to serve as Albemarle’s lead independent director.
“Rag’s appointment as our next CEO follows a comprehensive succession planning process conducted by the board,” said Gerald Steiner.
“Rag brings extensive commercial and operational expertise in natural resources and has successfully led global commercial strategy and advanced disciplined growth across complex businesses. We are confident he is the right leader to capitalize on our industry-leading portfolio and operational capabilities to unlock long-term value for shareholders,” added Steiner.
“I am honored to be named Albemarle’s next CEO. “Albemarle has world-class natural resources, deep technical expertise and strong customer partnerships. I am excited to work with Kent, the leadership team and the board to build on the company’s strong foundation in both its Energy Storage and Specialties business segments,” said Ragnar Udd.
Ragnar Udd has more than 25 years of experience in leading global resources businesses in geographies closely mirroring Albemarle’s global footprint, including Australia, Asia and North and South America. He is currently serving as chief commercial officer of BHP and as a member of its executive leadership team, where he has global responsibility for sales and marketing, procurement, maritime activities, and commodities market strategy. Prior to that, Udd held senior leadership roles across commercial, operational, technology, logistics and infrastructure functions, including President Americas, where he led BHP’s copper and potash businesses. He also served as interim chief technology officer, BHP Mitsubishi asset president and vice president Logistics and Infrastructure for Western Australia Iron Ore.
A WELL DEFINED TRANSITION PLAN TO ENSURE LEADERSHIP CONTINUITY
Kent Masters will transition to the role of executive chairman of the board upon Ragnar Udd joining Albemarle. In this role, Masters will lead the board’s governance, provide input and perspective on strategic planning, and ensure a seamless handoff of leadership responsibilities.
“Kent has been instrumental in building Albemarle into the industry leader it is today. He has played a key role in the development of Albemarle’s strategy and driven disciplined execution across cycles. Importantly, Kent’s steadfast commitment to our core values has strengthened Albemarle’s profile as a values-led, purpose-driven organization. We look forward to his continued contributions as he steps into the executive chairman role,” said Steiner.
“It has been a privilege to serve as CEO and work alongside Albemarle’s incredible team every day. I am proud of what we have achieved together, and I am confident now is the right time to transition the leadership to Rag, who is well positioned to lead Albemarle’s future. I look forward to working closely with him to ensure a seamless transition,” said Kent Masters.
Masters will serve as executive chairman through the date of the company’s 2027 annual meeting of shareholders and thereafter his role will be reviewed as part of the board’s annual director nomination process.
Albemarle Corporation is a world leader in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. They partner to pioneer new ways to move, power, connect, and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows them to deliver advanced solutions for customers.
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