May 10, 2019 / 9:59 PM / a year ago

Livent's head of strategy, IR leaving for 'other opportunities'

May 10 (Reuters) - Lithium producer Livent Corp said on Friday that its head of strategy and investor relations, Rasmus Gerdeman, is leaving to pursue other opportunities.

Gerdeman, who reported directly to Chief Executive Paul Graves, joined Livent in 2018 roughly five months before it was spun off from chemical maker FMC Corp. He previously worked for consultancy FTI Consulting Inc.

Gerdeman was responsible for long-term operational planning and identifying potential acquisition targets. Philadelphia-based Livent said earlier this year it was looking to buy another lithium mine; the company's only existing mine for the white metal is in Argentina.

Gerdeman did not respond to a request for comment.

His exit comes just days after Livent cut its full-year profit and revenue forecasts, citing weakening prices for lithium hydroxide and lower demand from some of its main customers.

Livent's stock has dropped 27 percent since the forecast cut on Tuesday.

Lithium is a key material used to make electric vehicle batteries. Livent had focused its business on one specific type of the white metal - hydroxide - which has seen weak demand in recent months due in part to uncertainty around China's electric vehicle subsidies.

Livent said Daniel Rosen, the current IR manager, will assume Gerdeman's responsibilities. (Reporting by Ernest Scheyder; Editing by Cynthia Osterman)

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