Albemarle Corporation has appointed Ragnar Udd as its next President and Chief Executive Officer, effective February 1, 2027. Udd will also join the board of directors.

Current Chairman and CEO Kent Masters will transition to the role of Executive Chairman of the board when Udd joins the company, serving in that capacity through the date of the 2027 annual meeting of shareholders. Gerald Steiner will continue to serve as lead independent director.

Udd brings more than 25 years of experience leading global resources businesses, most recently serving as Chief Commercial Officer of BHP and as a member of its executive leadership team. His prior operational and commercial roles include President Americas, where he led copper and potash businesses, interim Chief Technology Officer, BHP Mitsubishi Asset President, and Vice President Logistics and Infrastructure for Western Australia Iron Ore.

“Rag's appointment as our next CEO follows a comprehensive succession planning process conducted by the Board,” said 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.”

— Gerald Steiner, Lead Independent Director

Masters will lead board governance, provide input on strategic planning, and support the leadership transition.

Read the full announcement: Albemarle Announces CEO Succession Plan