Albermarle announces CEO succession plan

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Albermarle announces CEO succession plan

September 11, 2026

RubberWorld

Charlotte, NC – Albemarle Corporation announced that 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.

Udd has over 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.

“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.”

“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 will transition to the role of Executive Chairman of the Board upon 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,” Steiner continued. “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.”

“It has been a privilege to serve as CEO and work alongside Albemarle’s incredible team every day,” said Masters. “I am proud of

*Source: Rubber World. For reference only.