TIDMELM 
 
2nd October 2015 
 
Elementis - Appointment of CEO-Designate 
 
Elementis plc (ELM.L, "Elementis", the "Company" or "Group"), the FTSE 
250-listed global specialty chemicals company, today announces the appointment 
of Paul Waterman as Group CEO-Designate to replace David Dutro. He is currently 
Global CEO of BP Lubricants, which is part of the BP group, and will take up 
the role on the retirement of David Dutro early next year. 
 
Paul Waterman has held several senior leadership roles within BP since it 
acquired Burmah-Castrol in 2000, having joined the latter in 1994 after roles 
at Reckitt Benckiser and Kraft Foods. He has been Global CEO of the BP 
Lubricants business since July 2013 after having overseen the BP Australia/New 
Zealand Downstream business and been Country President of BP Australia since 
August 2010. Prior to that he was Chief Executive of BP's Global Aviation, 
Industrial, Marine & Energy Lubricants businesses (2009 to 2010) and Chief 
Executive of BP Lubricants Americas (2007 to 2009). In addition to successfully 
managing and growing differentiated chemical businesses, he has extensive 
leadership experience in all commercial and functional areas. 
 
Paul Waterman, 51, is an American national and has lived in Southern 
California, New Jersey, UK and Australia. He will be based in our Sci Park 
management HQ, nr. Princeton, New Jersey, USA. He holds a B.Sc. degree in 
Packaging Engineering from Michigan State University and an MBA in Finance and 
International Business from New York University, Stern School of Business. 
 
Andrew Duff, Chairman of Elementis, said: "On behalf of the Board, I am 
delighted that Paul will be joining us as our next Group Chief Executive. 
Paul's extensive experience and accomplishments speak volumes and he will bring 
considerable skills, knowledge and a proven track record in developing markets, 
products and opportunities for creating growth, as well as in the areas of 
business optimisation and transformation. I am very excited by the prospect of 
working with Paul to deliver sustainable growth and the level of value creation 
that our shareholders have come to expect. Paul is enthusiastic and highly 
motivated about helping us take the Company to the next level. 
 
David Dutro will be retiring early next year and, on behalf of the Board, I 
would like to take this opportunity to express our appreciation for the very 
significant contribution that he has made. David has been an exceptional Chief 
Executive of Elementis over the last nine years. Under his leadership, the 
Group has grown considerably through a number of strategic acquisitions that 
broadened our product portfolio and our geographical footprint in key growth 
markets, as well as initiatives that improved margins and operating 
efficiencies. As a result, we have strong, differentiated and cash generative 
businesses operating in attractive markets that have delivered excellent 
returns to shareholders over the years. David leaves Elementis well positioned 
to build on these solid platforms and continue delivering value to our 
shareholders and solutions to our customers." 
 
Paul Waterman, CEO-Designate, said: "I very much look forward to joining 
Elementis. It is an industry leader in its chosen markets and has an impressive 
range of technology, market positions and customer relationships. Innovation 
and customer collaboration are at the heart of what Elementis does best. I 
intend to build on the achievements that the management team has accomplished 
over the past nine years, ensuring that Elementis continues to make progress in 
delivering value for all of its stakeholders." 
 
A further announcement to confirm the effective dates of the above changes will 
be made in due course. 
 
The Company confirms that there are no other matters requiring disclosure in 
relation to listing rule 9.6.13. 
 
                                     ENDS 
 
Enquiries: 
 
Elementis                                   + 44 (0) 207 408 9300 
 
Wai Wong, Company Secretary 
 
FTI Consulting                              + 44 (0) 203 727 1000 
 
Deborah Scott 
 
Matthew Cole 
 
 
 
END

(END) Dow Jones Newswires

October 02, 2015 08:00 ET (12:00 GMT)

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