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Albemarle Corporation Announces Enhanced Organizational Structure

Albemarle Corporation (NYSE: ALB), a preeminent global provider of essential resources for mobility, energy, connectivity, and health, has launched several changes to its organizational structure that aim to foster greater agility and efficiency. These strategic modifications are intended to bolster the company's market-driven enterprise strategy while enhancing operational excellence.

As of today, the firm has made noteworthy leadership alterations. Mark Mummert, who will now serve as the Chief Operations Officer, is set to oversee an integrated function that encompasses resources, manufacturing, capital, and supply chain operations. Under the direction of Kent Masters, Albemarle’s Chairman and CEO, Mummert is tasked with ensuring optimal utilization of the company's superior resources, including joint venture oversight and global manufacturing capabilities. His new role will also include the management of capital projects and supply chain within an entirely integrated operating framework. As a part of this transition, it was announced that Netha Johnson will be departing from the company.

Additionally, Autumn Gagarinas has been named as Albemarle's Chief People and Workplace Transformation Officer. Gagarinas, who has previously served as Vice President of Human Resources for over two years, will now turn her focus towards talent management, organizational culture, and the optimization of business processes and technology. Her extensive experience in human resources spans more than two decades.

Moreover, Melissa Anderson will continue reporting directly to Masters, spearheading the company’s enterprise strategy and growth initiatives. As Chief Business Transformation Officer, she will oversee both research and technology functions within the organization.

In light of these changes, Chairman Kent Masters has emphasized the strategic importance of this newly enhanced organizational structure. He stated, "Our enhanced structure is designed to make us more agile and competitive as we navigate an increasingly dynamic market. With improved functional alignment, we can maximize our world-class resources and manufacturing capabilities to achieve operational excellence. Focusing our strategy on growth and customer needs allows us to effectively leverage the deep expertise of our workforce while intertwining human capital with technology."

About Albemarle Corporation

Albemarle Corporation is a leading entity in transforming essential elements into critical resources that power mobility, energy, connectivity, and health sectors. By prioritizing partnerships and pioneering innovative solutions, Albemarle is committed to advancing the ways products are moved, empowered, connected, and protected with a keen focus on sustainability and resilience. The company maintains a robust supply of lithium and bromine globally, ensuring the delivery of superior solutions to clients across various industries.

For more information on how Albemarle is contributing to a more resilient planet, visit Albemarle.com or follow them on LinkedIn and X (formerly Twitter) @AlbemarleCorp.

Forward-looking Statements

This release contains forward-looking statements that address expectations, anticipations, beliefs, or strategies regarding the future, as defined by the Private Securities Litigation Reform Act of 1995. These statements are reliant on assumptions made as of this date and are subject to known and unknown risks and uncertainties that may cause actual outcomes to differ materially from those projected. Phrases such as "anticipate," "believe," "could," "estimate," and similar expressions are indicative of forward-looking statements. For a comprehensive understanding of our risk factors, please refer to the reports filed with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.