Albemarle, the world's largest lithium producer, appointed BHP executive Ragnar Udd as President and CEO. The appointment becomes effective February 1, 2027. Current Chairman and CEO Kent Masters will transition to the role of Executive Chairman.
Masters will remain Executive Chairman through Albemarle's 2027 annual shareholder meeting to ensure a stable transition. Udd currently serves as Chief Commercial Officer at BHP. He brings over 25 years of experience in the global resources industry.
Udd previously managed copper and potash businesses as BHP’s President of the Americas. His career includes leadership positions across operations, logistics, and technology.
The leadership change follows surging demand for energy storage in a dynamic lithium market. Udd's appointment provides the company with extensive operational and commodity market expertise.