In Talent Tuesday this week, Albemarle (NYSE:ALB) appoints Ragnar ‘Rag’ Udd as president and CEO, effective 1 February 2027. Udd will also join the company’s board of directors.
Udd brings over 25 years of experience to the role, having led global resources companies across Australia, Asia, and North and South America. He currently serves as chief commercial officer at BHP Group (ASX:BHP), leading the charge on sales and marketing, procurement, maritime activities, and commodity market strategy.
Lead Independent Director Gerald Steiner says that Udd’s appointment follows comprehensive succession planning by the board.
“Rag brings extensive commercial and operational expertise in natural resources and has successfully led global commercial strategy and advanced disciplined growth across complex business. We are confident he is the right leader to capitalise on our industry-leading portfolio and operational capabilities to unlock long-term value for shareholders,” Steiner says.
In his role at BHP, Udd has reportedly been the company’s top negotiator for iron ore deals with China and its primary contact with China Mineral Resources Group (CMRG), negotiating key terms for the sale of iron ore to CMRG’s steelmakers.
Reuters reports that negotiations over iron ore purchases in China have become more difficult, highlighting the importance of a leader such as Udd in maintaining the relationship.
Alongside this shift, current chairman and CEO Kent Masters will transition to the role of executive chairman, leading the board’s governance and strategic planning.
Albemarle is a US-based company focused on transforming resources into ingredients for mobility, energy, connectivity, and health.
Write to Amy Rotman at Mining.com.au
Main image: Dominic Lorrimer
