Albemarle has named BHP Group Limited Chief Commercial Officer Ragnar "Rag" Udd as its next chief executive officer, effective Feb. 1, 2027. Udd will join Albemarle’s board, while Kent Masters will become executive chairman at the company’s 2027 annual meeting. The appointment follows BHP’s announcement that Udd will leave the miner at the end of January. Udd brings more than 25 years of natural-resources experience across Australia, Asia and the Americas, including leadership of BHP’s copper and potash businesses and responsibility for global sales, marketing, procurement and commodity strategy. He will inherit a lithium market still affected by Chinese oversupply and weak pricing, although stationary energy storage is driving stronger-than-expected global demand. Albemarle’s second-quarter Energy Storage sales rose 78% to $1.28 billion, while analysts expect near-term earnings pressure from lower prices and delays at the Greenbushes CGP3 plant.