Albemarle Corporation

Albemarle’s team has executed sizable cost actions, simplified JV structures, and tightened capital spending in response to the downturn, which we view positively. However, the 2023 FCPA resolution related to the catalysts business points to prior control shortcomings.

Governance and compliance enhancements are underway, and leadership credibility will hinge on sustaining positive free cash flow while advancing key permits at Kings Mountain and maintaining disciplined growth. Not founder‑led; alignment is moderate.