Albemarle Names BHP Executive Ragnar Udd as Next CEO

Albemarle has appointed BHP executive Ragnar Udd as its next president and chief executive officer, effective February 1, 2027. Udd, currently BHP's chief commercial officer, will also join Albemarle's board of directors. Kent Masters, Albemarle's current chairman and CEO, will assume the role of executive chairman upon Udd's ascension.

Udd has over 25 years of experience in the resources sector, previously serving as BHP's President Americas, overseeing its copper and potash businesses. The appointment comes at a critical time for Albemarle, which recently announced plans to idle its Kemerton lithium hydroxide processing plant in Australia due to prolonged price volatility.

Despite this, market conditions have shown improvement, and the company's Energy Storage business reported positive second-quarter 2026 results. Albemarle remains highly sensitive to lithium prices, with its 2026 outlook remaining uncertain. Masters has led the company since April 2020, navigating both the lithium price boom associated with electric-vehicle growth and the subsequent market downturn.

Udd's appointment underscores Albemarle's commitment to operating discipline and commodity-market expertise as the company positions its lithium portfolio for long-term growth in electric vehicles and energy storage.