BHP Group’s Chief Commercial Officer, Rag Udd, will leave the company at the end of January to pursue an opportunity outside the firm, an internal staff memo states. The departure will come after nearly three decades with BHP, with Udd based in Singapore and set to mark roughly 30 years of service by the time he exits, the memo adds.
The role Udd holds is one of the miner’s most demanding - it includes negotiating iron ore arrangements with Chinese buyers, notably China Mineral Resources Group (CMRG). Udd led BHP’s talks with CMRG at a time when the state buyer intensified pressure on iron ore suppliers to secure improved terms for domestic steel mills. That pressure prompted bans on some steel mills from purchasing BHP’s products late last year, before a deal was reached in April.
Industry participants expect those commercial discussions to become tougher, and finding the right successor to manage the relationship with Chinese buyers will be an early priority for new leadership. Brandon Craig, who took over BHP’s top role in July, will face the task of selecting a leader to handle that strategic customer relationship.
Udd previously ran BHP’s Americas division from 2020 through 2024. In that capacity he oversaw development of the Jansen potash project in Canada, which the memo says is scheduled to begin production in the middle of next year. He also supervised significant capital allocations across BHP’s Chilean copper operations, including work on the Spence expansion and at Escondida, the world’s largest copper mine.
The memo notes that Udd had been regarded by some analysts and investors as a potential candidate for the company’s top executive role before the appointment of Craig. The memo also indicates that Udd did not immediately respond to a request for comment on his departure.
Summary of immediate implications:
- Udd’s exit leaves a high-profile commercial role vacant ahead of anticipated tougher iron ore negotiations with Chinese buyers.
- Brandon Craig, who became CEO in July, will need to prioritize appointing a successor to manage this strategic customer relationship.
- Udd’s operational experience includes leadership of BHP’s Americas division and oversight of major potash and copper investments.