Albemarle appoints BHP executive Ragnar Udd as next CEO
Ragnar Udd will take over from Kent Masters on 1 February 2027 as Albemarle manages volatile lithium prices and focuses on tighter capital discipline.
Albemarle has appointed BHP chief commercial officer Ragnar “Rag” Udd as its next president and chief executive officer, with the leadership change due to take effect on 1 February 2027.
Udd will join Albemarle’s board when he assumes the role. At BHP, he oversees sales and marketing, procurement, maritime operations and commodity-market strategy.
Udd has more than 25 years’ experience in the resources sector and previously led BHP’s Americas operations, including its copper and potash businesses, according to the company’s announcement reported by Yahoo Finance.
Current chairman and CEO Kent Masters will become executive chairman when Udd takes over. Masters is expected to remain in that role through Albemarle’s 2027 annual shareholder meeting, after which his position will be reviewed through the board’s normal nomination process.
The transition comes as Albemarle responds to volatile lithium prices with a focus on cost reductions, capital discipline and productivity improvements. Earlier in 2026, the company announced plans to idle its Kemerton lithium hydroxide processing plant in Australia, citing prolonged price volatility and difficult economics.
Albemarle’s Energy Storage business reported second-quarter 2026 results against a backdrop of recovering lithium prices, although the company’s 2026 outlook remains highly sensitive to market conditions.
