Nationality American | Occupation Businessman, CEO | |
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Born July 24, 1964 (age 52) ( 1964-07-24 ) America Known for CEO Elementis, CEO BP Castrol, CEO BP Australasia | ||
Lynn Paul Waterman, usually known as Paul Waterman (born July 24, 1964), is an American businessman and the Chief Executive Officer of Elementis Plc. Paul was Global CEO of BP Lubricants, a part of the BP Group. Paul joined Castrol in 1994, which was acquired by BP in 2000. From 2007 to 2009 Paul was CEO of BP Lubricants Americas. From 2009 to 2010 CEO of BP Global Aviation, Industrial Marine & Energy Lubricant businesses and from 2013 CEO of BP Lubricants. Paul has a B. Sc. Degree in Packaging Engineering from Michigan State University and a MBA from Stern School of Business.
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Early life and education
Waterman was born in Livonia, Michigan to parents Lynn Paul II and Linda Crider. In 1982, Paul graduated from Redford Union High School in suburban Detroit. He received a Bachelor of Science in Packaging Engineering from Michigan State University in 1987. During his time at MSU Paul was a member of the fraternity Delta Chi. In 1995 Waterman was awarded an MBA in Finance/International Business from Stern School of Business, New York University
Early career
Waterman began his career in consumer marketing in 1987, holding brand management roles at Reckitt Benckiser and Kraft Foods.
Waterman joined Castrol in 1994, taking on marketing, retail and Vice president roles. He latterly integrated into BP after it acquired Burmah-Castrol in 2000.
In 2005 Waterman became the incident Crisis Manager after the BP Texas City refinery explosion. Waterman coordinated BP response to the industrial accident which killed 15 employees and injured 170 others.
In 2006, he returned to the BP Lubricants Americas as U.S. General Manager, and in May 2007 was promoted to Chief Executive for BP Lubricants Americas., assuming full responsibility for the company’s lubricants business across North and South America. He subsequently took up the role of CEO Castrol Global Aviation, Marine, Industrial & Energy Lubricants
BP Australasia
In 2010 Waterman relocated to Melbourne, Australia to take up roles as Chief Executive BP Australasia & Country President, BP Australia In addition to his BP role, Waterman was appointed Chairman of the Australian Institute of Petroleum in 2012
During his time in Australia Waterman became a speaker in the industry on the rising cost of doing business in Australia
"AUSTRALIA is becoming an increasingly expensive place to do business resulting in almost every investment decision being a close call, a leading oil executive has warned. BP Australasia president Paul Waterman said the cost of doing business would have to go down or Australia would lose out
In 2011 whilst in his role as CEO there were market rumours that Waterman was being targeted by Australia’s second-largest oil and gas producer - Woodside - for the role of CEO
Later BP career: Castrol
In July 2013 Waterman was appointed Global Chief Executive of BP Lubricants and led the company through a period of growth.
During his tenure as CEO, Waterman fronted a new joint venture with TechSolve, a specialized US-based manufacturing consultancy. The new entity, OPTIS, develops technology and services to enable manufacturers of machined parts to improve efficiency in their operations and across the supply chain.
In October 2015, Waterman announced his resignation from BP to take up the position of Group Chief Executive of Elementis Plc a constituent of the FTSE 250 Index. It was announced on the London Stock Exchange in October 2015
Later career: Elementis Plc
On 8 February 2016 Waterman took up the role of Group CEO and President of Elementis Plc, a UK based chemicals production company. Waterman has led the company through a period of share growth - taking the share from £2.11 on Feb 08 2016 to crossing the £3 mark for the first time since June 2015 on 10 February 2017.
Within the first year of his leadership of the chemicals company, in a bid to grow the companys personal care and cosmetics business, Waterman acquired SummitReheis, an antiperspirant ingredient supplier for US$360 million. SummitReheis manufactures and distributes antiperspirant chemicals for deodorants and dental products, a $13Bn industry
"“Chief executive officer Paul Waterman said: The group is well positioned to capitalise on this acquisition through the enhanced geographic footprint and strong customer relationships that it brings. Together with our existing business, the acquisition of SummitReheis is transformative for our personal care business, creating a substantial, high return platform that will help accelerate our Growth strategy.”
The deal was received positively by the capital markets "Market Cheers US Acquisition By Elementis" and was reported by the cosmetics industry.
Personal life
Waterman is married to Stacey Waterman. They have two children: Elyse (1997) and Andrew John (2000)