Albemarle drops after announcing new CEO - ALB News | RalliesAlbemarle drops after announcing new CEO
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ALB• Shares fall after new CEO appointment
- 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
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