Albemarle Corporation has named BHP executive Ragnar “Rag” Udd as its next president and CEO, marking a leadership change at the global lithium and specialty chemicals company as it looks to chart its next phase of growth.

 

Udd will take over as CEO on Feb. 1, 2027, and will join Albemarle’s board. Current Chairman and CEO Kent Masters will step into the role of executive chairman when Udd joins the company.

 

Gerald Steiner, Albemarle’s lead independent director, said the appointment followed an extensive succession process.

 

"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."

 

Udd brings more than 25 years of experience in the global resources sector, with leadership roles spanning Australia, Asia, North and South America.

 

He currently serves as chief commercial officer at BHP, overseeing sales and marketing, procurement, maritime activities and commodities market strategy. His previous roles include president of BHP’s Americas operations, where he led the company’s copper and potash businesses, as well as senior positions covering technology, logistics, infrastructure and mining operations.

 

"I am honored to be named Albemarle's next CEO," said Udd. "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."

 

Masters, who has led Albemarle as CEO, will move to executive chairman when Udd takes over. In that role, he will focus on board governance, strategic planning and ensuring a smooth transfer of leadership.

 

"Kent has been instrumental in building Albemarle into the industry leader it is today," Steiner continued. "He has played a key role in the development of Albemarle's strategy and driven disciplined execution across cycles."