BHP chief commercial officer Ragnar “Rag” Udd will take the helm of global lithium producer Albemarle Corporation, bringing more than 25 years of operational and commercial resources experience to the role.
Udd will become Albemarle president and chief executive officer on February 1, 2027, immediately after leaving BHP at the end of January. He will also join the company’s board of directors.
His appointment places an executive with extensive Australian mining experience at the head of a major global lithium business with significant operations and investments in Western Australia.
Albemarle holds strategic interests in the Wodgina lithium mine joint venture and the Greenbushes lithium mine, as well as exploration tenements across the Pilbara, Goldfields and South West regions.
The company also established the Kemerton lithium plant in WA’s South West. The facility is transitioning to care and maintenance following Albemarle’s decision earlier this year to discontinue operations.
Listed on the New York Stock Exchange under the ticker ALB, Albemarle has a market capitalisation of approximately $US15.60 billion.
Udd is currently a member of BHP’s executive leadership team, with responsibility for the miner’s global sales and marketing, procurement, maritime activities and commodities market strategy.
He joined BHP in 1997 as a project and compliance engineer at the San Juan mine in New Mexico before progressing through senior operational, commercial, technology, logistics and infrastructure positions across Australia, Asia and the Americas.
His previous roles include president Americas, where he led BHP’s copper and potash businesses, interim chief technology officer and asset president of the BHP Mitsubishi Alliance.
Udd has also served as vice president logistics and infrastructure for BHP’s Western Australia Iron Ore division, giving him experience across the mine-to-market supply chain of one of Australia’s largest mining operations.
More recently, he has been responsible for BHP’s negotiations with China Mineral Resources Group as the state-backed buyer increased pressure on major iron ore producers to improve purchasing terms for Chinese steelmakers.
Albemarle lead independent director Gerald Steiner said Udd’s appointment followed an extensive selection process.
“Rag’s appointment as our next CEO follows a comprehensive succession planning process conducted by the Board,” Steiner said.
“Rag brings extensive commercial and operational expertise in natural resources and has successfully led global commercial strategy and advanced disciplined growth across complex businesses.”
Udd said Albemarle’s resources, technical capabilities and established customer relationships provided a strong platform for the company.
“Albemarle has world-class natural resources, deep technical expertise and strong customer partnerships,” he said.
“I am excited to work with Kent, the leadership team and the Board to build on the Company’s strong foundation in both its Energy Storage and Specialties business segments.”
Current Albemarle chairman and CEO Kent Masters will transition to executive chairman when Udd assumes the position, while Steiner will remain lead independent director.
BHP is expected to announce its next chief commercial officer in the coming months.