Albemarle Announces Retirement, Appointment of General Counsel

Rhea-AI Summary

Albemarle Corporation (NYSE: ALB) announced the retirement of Karen G. Narwold, effective April 4, 2023, after nearly 13 years as general counsel. Narwold played a key role in significant corporate transformations, including the $6.2 billion acquisition of Rockwood Holdings. Kristin M. Coleman will succeed her as executive vice president and general counsel starting November 28, 2023. Coleman brings extensive experience from US Foods and Sears Holdings, with expertise in corporate governance aimed at enhancing long-term value for stakeholders.

Positive

• Kristin Coleman's appointment is expected to enhance long-term corporate governance and compliance.
• Coleman's experience in public companies may drive value for stakeholders.

Negative

• Narwold's departure could lead to concerns regarding continuity in legal strategy.
• Potential experience gap due to leadership change at a critical time.

CHARLOTTE, N.C., Oct. 31, 2022 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Karen G. Narwold, executive vice president, chief administrative officer, general counsel, and corporate secretary, will retire from Albemarle effective April 4, 2023. Kristin M. Coleman will join the company as executive vice president, general counsel, and corporate secretary on Nov. 28, 2023. Coleman will report to J. Kent Masters, chairman and CEO.

Narwold's retirement follows nearly 13 years as Albemarle's general counsel and corporate secretary and a 36-year legal career. She joined Albemarle in 2010 as senior vice president, general counsel, and corporate secretary. She was appointed to her current role in 2016.

"Karen has been a resilient executive leader for Albemarle, helping to steer the company through transformational growth," said Masters. "She reengineered the legal department and compliance program, established our external affairs organization, and helped lead the negotiation and closure of our $6.2 billion acquisition of Rockwood Holdings in 2015. We thank her for being a true steward of our values as she helped Albemarle become a stronger company over her tenure."

Coleman will join Albemarle from US Foods, an American foodservice distributor, where she has served as executive vice president, general counsel, and chief compliance officer since 2017. Previously, she served as senior vice president, general counsel, and corporate secretary of Sears Holdings Corporation and as vice president, general counsel, and corporate secretary for Brunswick Corporation.  Before moving in-house, she worked in private practice with Sidley Austin LLP.

"Kristin's strong experience with public companies in corporate governance, legal and regulatory risk, and compliance and ethics should drive long-term value for all Albemarle stakeholders," Masters remarked.

Coleman earned a juris doctorate from the University of Michigan Law School and a bachelor's degree in history and political science from Duke University. She founded the Chicago General Counsel Forum and is a member of the Economic Club of Chicago. She serves as a Board Member Emeritus for the Center for Enriched Living.

About Albemarle

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.

We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, our businesses, and the markets we serve.

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SOURCE Albemarle Corporation

FAQ

Who is the new general counsel at Albemarle Corporation?

Kristin M. Coleman will become the new general counsel, starting November 28, 2023.

What was Karen G. Narwold's role at Albemarle Corporation?

Karen G. Narwold served as executive vice president, general counsel, and corporate secretary for nearly 13 years.

When did Karen G. Narwold retire from Albemarle Corporation?

Karen G. Narwold's retirement will be effective on April 4, 2023.

What is Kristin Coleman's background before joining Albemarle?

Kristin Coleman previously served as executive vice president, general counsel, and chief compliance officer at US Foods.

How might Kristin Coleman's appointment affect Albemarle Corporation's stakeholders?

Her strong experience in corporate governance and compliance is expected to drive long-term value for Albemarle's stakeholders.