Albemarle (ALB) said Monday that it has restructured to a fully integrated functional business model from operating as two core business unit: energy storage and specialties.
The new operating structure is designed to adapt to market conditions, maintain the company's competitiveness, and drive cost efficiencies, according to the statement.
As part of the changes, Albemarle said Netha Johnson was named as its chief operations officer from being the president of its specialties business, while Eric Norris will become its chief commercial officer from being the president of its energy storage business.
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