Albemarle Appoints BHP Executive Ragnar Udd as Next CEO

Albemarle Corporation, the world's largest lithium producer, has appointed Ragnar Udd as its next chief executive officer. Udd, who currently serves as the chief commercial officer at BHP, will officially assume the role on February 1, 2027, after leaving the mining giant at the end of January.

Udd succeeds Kent Masters, who will transition into the role of executive chairman. In this new capacity, Masters will oversee governance, strategic planning, and the leadership handoff through the 2027 annual shareholders meeting.

The leadership transition comes as Albemarle experiences a surge in global lithium demand, which the company reported grew 45% through May compared to the previous year, fueled by the expanding energy-storage sector. Albemarle Chairman James O’Brien Steiner stated that Udd's commercial and operational expertise in natural resources makes him the right leader to unlock long-term shareholder value.