Albemarle drops after announcing new CEO

Albemarle

03/09/2026 13:53

** Shares of lithium producer Albemarle ALB.N fall 1.5% to $135.75 premarket
** Co announces appointment of BHP executive Ragnar Udd as its CEO effective February 1, 2027
** Appointment comes after BHP's internal memo showed Udd would leave the mining giant at the end of January to pursue a new opportunity
** Kent Masters, who has led co since April 2020, to become executive chairman
** 15 of 23 brokerages rate the stock "buy" or above, 8 "hold"; median PT at $175 - data compiled by LSEG
** As of last close, stock had fallen 2.61% this year

 (Reporting by Miraanta Lowrance in Bengaluru)
 ((miraanta.lowrance@thomsonreuters.com))