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New CEO and Chairman to Lead Albemarle
April 21, 2020
4 Min Read
Specialty chemicals firm Albemarle Corporation has named board member J. Kent Masters as its new chairman, chief executive officer, and president, the company announced in a release Monday. The appointments become effective immediately.
“Kent’s significant global business experience with specialty chemical and engineering companies, as well as his strong leadership skills, intellect, and character make him ideally suited to execute Albemarle’s strategy and deliver long-term benefits for our customers, employees, and stakeholders,” board member James O’Brien said in a statement.
Masters has had a place on Albemarle’s board since 2015. Three years later, he took on the role of Lead Independent Director. Prior to joining the company, he served Rockwood Holdings Inc. as a non-employee director from 2007 to 2015. The executive also occupied the role of Chief Executive Officer of global engineering and construction contractor Foster Wheeler AG from 2011 to 2015. In addition, he has been a member of industrial gas firm Linde’s executive board.
“It is a privilege and an honor to be named chairman, president, and CEO of Albemarle,” said Masters in the release. “I look forward to continuing to work with the board of directors and the entire Albemarle team to position the company for long-term success.”
The changes are occurring after its current chairman, CEO, and president, Luke Kissam, said he was stepping down from his roles for health reasons. Kissam will remain on at Albemarle in an advisory role prior to his retirement in June.
“Over the past five years, Kent and I have worked closely together on the development and implementation of Albemarle’s strategy,” Kissam stated. “He has a strong knowledge of our industry and business and is absolutely committed to our core values.”
Along with Masters' appointment, O'Brien was named Lead Independent Director.
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