The company's press release states that it will alter its operating structure to enhance flexibility, realize cost savings, and remain competitive in the long run.
Albemarle's business is currently split into two main sectors - Energy Storage (battery technology) and Specialties (specialty chemicals). The press release highlights that it will transition to a completely integrated functional model in the future.
This choice comes after a thorough examination of the organization's expenses and activities.
More information regarding the change in operating structure will be given by the company on Nov. 7.
Albemarle also revealed on Monday that Netha Johnson, the president of the Specialties Division, will assume the role of chief operating officer for the company on November 1. In that position, Johnson will oversee both global manufacturing operations and research and technology.
Albemarle's new chief commercial officer will be Eric Norris, who currently serves as president of the Energy Storage division.
Albemarle has seen a decrease of 28.8% in its capitalization since the start of 2024.
source: bloomberg.com
Albemarle's business is currently split into two main sectors - Energy Storage (battery technology) and Specialties (specialty chemicals). The press release highlights that it will transition to a completely integrated functional model in the future.
This choice comes after a thorough examination of the organization's expenses and activities.
More information regarding the change in operating structure will be given by the company on Nov. 7.
Albemarle also revealed on Monday that Netha Johnson, the president of the Specialties Division, will assume the role of chief operating officer for the company on November 1. In that position, Johnson will oversee both global manufacturing operations and research and technology.
Albemarle's new chief commercial officer will be Eric Norris, who currently serves as president of the Energy Storage division.
Albemarle has seen a decrease of 28.8% in its capitalization since the start of 2024.
source: bloomberg.com