ALBEMARLE Names BHP Executive Ragnar Udd as CEO From February 2027

Albemarle (ALB) said on September 3, 2026 that Ragnar "Rag" Udd has been appointed President and Chief Executive Officer, effective February 1, 2027. Udd will also join the board. Current Chairman and CEO Kent Masters will move to the role of Executive Chairman once Udd starts.

Udd joins from BHP, where he is currently Chief Commercial Officer and a member of the executive leadership team, with global responsibility for sales and marketing, procurement, maritime activities and commodities market strategy. He has over 25 years of experience in global resources businesses across Australia, Asia and North and South America.

Earlier in his BHP career, Udd served as President Americas, leading the company's copper and potash businesses, and also held roles as interim Chief Technology Officer, BHP Mitsubishi Asset President and Vice President Logistics and Infrastructure for Western Australia Iron Ore.

Lead Independent Director Gerald Steiner, who keeps that role, said the appointment follows a comprehensive succession planning process conducted by the Board, and that Udd is the right leader to unlock long-term value for shareholders.

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. In that role he is to lead board governance and provide input on strategic planning.

Udd said he is honored to be named CEO and pointed to building on the foundation in both the Energy Storage and Specialties segments. Albemarle is one of the world's largest suppliers of lithium and bromine, and the leadership change comes with a roughly five-month runway before the handover takes effect.

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