Form 8-K · Current report
Albemarle Corporation 8-K, filed Sep 3, 2026
- Filed
- CIK
- 0000915913
- Accession no.
- 0001140361-26-035623
Summary
Albemarle Corporation's board approved a leadership succession plan appointing Ragnar Udd, currently BHP's Chief Commercial Officer, as Albemarle's President and CEO effective February 1, 2027, with J. Kent Masters, Jr. transitioning from Chairman and CEO to Executive Chairman of the Board. Under Udd's employment agreement he receives a $1.3 million annual base salary, a $1.4 million sign-on bonus, and make-whole equity awards with an aggregate grant date target value of $11 million.
Key points
- Udd's appointment takes effect February 1, 2027, or an earlier mutually agreed date, and he will also join Albemarle's board.
- Udd's annual target bonus is 135% of base salary, with a maximum of 200% of target, and he will receive 2027 long-term incentive awards with an aggregate grant date value of $7.5 million.
- Masters will serve as Executive Chairman from Udd's start date through the 2027 annual shareholders meeting, and thereafter subject to the board's nomination process.
- Gerald Steiner continues as Albemarle's Lead Independent Director.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
- 7.01Regulation FD Disclosure
- 9.01Financial Statements and Exhibits
From the filing
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Executive Leadership Changes On September 2, 2026, the Board of Directors of the Company (the “Board”) of Albemarle Corporation (the “Company”) approved a leadership succession plan for the Company by appointing Ragnar Udd to succeed J. Kent Masters, Jr. as the Company’s President and Chief Executive Officer, effective as of February 1, 2027 or a mutually agreed earlier date (the “CEO Employment Commencement Date”). Effective as of the CEO Employment Commencement Date, Mr. …
An excerpt of the text as filed with the SEC, cut for length.
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