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Albemarle names BHP veteran Ragnar Udd as next CEO
The leadership transition is set for Feb. 1, 2027, with global lithium demand through May up 45% year over year as energy-storage demand outpaces supply.
Albemarle, the world’s largest lithium producer, has named BHP executive Ragnar Udd as its next chief executive officer, citing tighter market conditions for battery metals as energy-storage demand accelerates.
Udd, BHP’s chief commercial officer, will take over on Feb. 1, 2027, succeeding Kent Masters, who will become executive chairman, after BHP said earlier that Udd would depart at the end of January.
Albemarle said Udd brings more than 25 years of resources experience across Australia, Asia, and North and South America, and that his remit at BHP includes global sales and marketing, procurement, maritime activities, and commodities market strategy.
The company also pointed to lithium demand rising faster than supply, saying global lithium demand through May jumped 45% from a year earlier, and described the appointment as part of a succession process aimed at building on its Energy Storage and Specialties businesses.