- After almost nine years in the position
- Praise, thanks and good wishes for Kissam
- Search for a successor
- Kissam said 115 words
(exechange) — Charlotte, North Carolina, February 5, 2020 — Luke Kissam, chief executive of Albemarle, leaves. As announced by Albemarle Corp. in a news release on Wednesday, February 5, 2020, Luther C. (Luke) Kissam leaves his post as chief executive officer at the specialty chemicals company after almost nine years in the role, effective June 2020.
Albemarle will undertake a search for a successor.
Luke Kissam’s departure from the CEO post is explained as follows. Albemarle said: “Chairman and Chief Executive Officer Luke Kissam has advised the Board of Directors that he will retire from his roles as an officer and director of Albemarle effective June 2020, for health reasons.”
Share price decline
The announcement follows a decline in Albemarle Corp.’s share price of 31% since January 2018.
In the position of CEO since 2011
Luke Kissam became CEO of the Company in 2011.
Luke Kissam was named Chief Executive Officer of Albemarle Corporation in September 2011.
He was elected to the company’s board of directors in November 2011 and named chairman of the board in November 2016.
Kissam joined Albemarle in September 2003 as Vice President, General Counsel, and Corporate Secretary and served as Senior Vice President, Manufacturing and Law, and Corporate Secretary from January 2008 until his promotion to President in March 2010.
Prior to Albemarle, Kissam served as Vice President, General Counsel, and Secretary of Merisant Company, a manufacturer of artificial sweeteners such as Equal and Canderel, which was formed from Monsanto Company’s tabletop sweetener business.
Prior to Merisant, Kissam served as Associate General Counsel of Monsanto Company, a multinational agrochemical and agricultural biotechnology corporation.
Kissam graduated magna cum laude from the University of South Carolina School of Law and summa cum laude from The Citadel.
He serves on the board of directors at DuPont de Nemours, the American Chemistry Council, the Albemarle Foundation, The Citadel Foundation, and the Charlotte Sports Foundation.
He previously served on the DowDuPont Specialty Products Advisory Committee and was an ex-officio member of the company’s board of directors.
Push-out Score not determined
When the reason for the departure is health-related, a Push-out Score™ is not determined.
Read the full story in the exechange report 6.2020 ($).