Kent Masters
Following the retirement of specialty chemicals company Albemarle’s chairperson, president and CEO Luke Kissam, who had to leave owing to health reasons, the company on Monday appointed, with immediate effect, Kent Masters as new chairperson, president and CEO.
Kissam will stay on through June in an advisory capacity to ensure an orderly leadership transition. In addition, he will fulfil the remainder of his current term as a member of the board and will stand for re-election to the board at the company's annual meeting on May 5.
As part of the transition, current board member James O'Brien has been appointed lead independent director.
O'Brien states that Masters' 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 Albemarle’s customers, employees and stakeholders.
Masters joined the Albemarle board of directors in 2015 and was named lead independent director in 2018. Masters was a non-employee director of Rockwood Holdings from 2007 to 2015, when Rockwood was acquired by Albemarle.
In addition, he was the CEO of engineering and construction contractor and power equipment supplier Foster Wheeler, from 2011 to 2015, when Foster Wheeler was acquired by Amec to form Amec Foster Wheeler.
He is also a former member of the executive board of industrial gases manufacturer Linde, with responsibility for the Americas, Africa and the South Pacific.
O'Brien joined the Albemarle board of directors in 2012, and he serves as chairperson of the nominating and governance committee and as a member of the audit and finance committee. O'Brien retired in 2014 from his role as chairperson and CEO of specialty chemicals company Ashland.