Albemarle Names BHP Executive Ragnar Udd as Next CEO

Albemarle Names BHP Executive Ragnar Udd as Next CEO

Fri, September 4, 2026 at 7:15 AM GMT+3 2 min read

• BHP -0.34%

Albemarle has named BHP executive Ragnar "Rag" Udd as its next president and chief executive officer, setting up a leadership transition at one of the world's largest lithium producers as the company navigates a volatile battery-metals market.

Udd will take over on February 1, 2027, and will also join Albemarle's board of directors. Current Chairman and CEO Kent Masters will move into the role of executive chairman when Udd assumes the top job, according to the company's announcement.

Udd is currently BHP's chief commercial officer, with responsibility for sales and marketing, procurement, maritime operations and commodity market strategy. He has spent more than 25 years in the resources sector and previously served as BHP's President Americas, overseeing its copper and potash businesses. BHP continues to list Udd as chief commercial officer and a member of its executive leadership team.

The appointment brings a senior mining executive with experience across major commodity markets into Albemarle at a consequential point for the global lithium industry.

Lithium producers have spent recent years adjusting investment and operating plans in response to sharp swings in prices. Albemarle announced earlier this year that it would idle its Kemerton lithium hydroxide processing plant in Australia, citing prolonged price volatility and challenging economics for Western hard-rock lithium conversion.

At the same time, market conditions have shown improvement. Albemarle's Energy Storage business reported second-quarter 2026 results against a backdrop of recovering lithium pricing, while the company continues to emphasize cost reductions, capital discipline and productivity improvements. Its 2026 outlook remains highly sensitive to lithium prices.

Masters has led Albemarle since April 2020, when he was appointed chairman, president and CEO. His tenure has covered both the lithium price boom associated with rapid electric-vehicle growth and the subsequent market downturn that forced producers across the sector to reassess expansion plans and spending.

Masters is expected to serve as executive chairman through Albemarle's 2027 annual shareholder meeting, after which his role will be reviewed as part of the board's normal nomination process.

For Albemarle, Udd's appointment signals a continued emphasis on operating discipline and commodity-market expertise as the company positions its lithium portfolio for longer-term growth in electric vehicles and energy storage.

By Charles Kennedy for Oilprice.com

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