Albemarle Corporation said Ragnar “Rag” Udd has been appointed president and chief executive officer effective Feb. 1, 2027, according to a press release filed as an exhibit to a Form 8-K with the Securities and Exchange Commission.
Udd will also join the board of directors of the Charlotte, N.C.-based company, which trades on the New York Stock Exchange under the ticker ALB and produces lithium and bromine.
Kent Masters, currently chairman and chief executive, will transition to executive chairman of the board when Udd joins the company, the release said. Gerald Steiner will continue to serve as lead independent director.
Transition timetable
Masters will serve as executive chairman through the date of the company’s 2027 annual meeting of shareholders, after which his role will be reviewed as part of the board’s annual director nomination process, according to the release.
In the executive chairman role, Masters will lead the board’s governance, provide input and perspective on strategic planning, and “ensure a seamless handoff of leadership responsibilities,” the company said.
The release does not disclose compensation terms for either executive.
The incoming chief executive
Udd is currently chief commercial officer of BHP and a member of its executive leadership team, with global responsibility for sales and marketing, procurement, maritime activities and commodities market strategy, according to the release.
The company said he has more than 25 years of experience leading global resources businesses in Australia, Asia, and North and South America. His prior roles at BHP included president Americas, where he led the company’s copper and potash businesses; interim chief technology officer; BHP Mitsubishi Asset president; and vice president of logistics and infrastructure for Western Australia Iron Ore.
Statements from the company
“Rag’s appointment as our next CEO follows a comprehensive succession planning process conducted by the Board,” Steiner said in the release. He added that the board is “confident he is the right leader to capitalize on our industry-leading portfolio and operational capabilities to unlock long-term value for shareholders.”
“I am honored to be named Albemarle’s next CEO,” Udd said. “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.”
Of the outgoing chief executive, Steiner said: “Kent has been instrumental in building Albemarle into the industry leader it is today.”
Masters said in the release that “I am confident now is the right time to transition the leadership to Rag, who is well positioned to lead Albemarle’s future.”
The company identified “changes in availability to serve as the CEO” among the factors that could cause actual results to differ from the forward-looking statements in the release.
Source: SEC EDGAR — Albemarle Corporation, “Albemarle Announces CEO Succession Plan” (Form 8-K, Exhibit 99.1, accession 0001140361-26-035623), released September 3, 2026. The release states that its forward-looking statements are based on management’s assumptions as of that date, are subject to known and unknown risks, and that the company assumes no obligation to revise them.