Castrol Names New CEO


Paul Waterman became CEO of Castrol and senior executive vice president of BP Lubricants July 1, succeeding Mike Johnson, who will retire at the end of 2013.

According to a July 11 announcement, Waterman has run the Australia and New Zealand Fuels Value Chain since 2010. After joining Castrol in 1994, he spent 11 years in the lubricants business out of his 20 years downstream experience in the United Kingdom, United States and Australasia. He was vice president of the automotive Americas region in 2007 and 2008, and then vice president of lubricants B2B businesses (Marine, Industrial, Aviation and Energy lubricants) in 2009.

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Mike is a talented leader and has delivered great results over the past six years, Waterman said. Going forward, we have a strong team, with great brands and customer relationships, underpinned by leading technology and an efficient supply chain. I believe this is a very strong foundation to support continued growth into the future, and I am very excited to be leading this team.

According to consultancy Kline & Co.s study, Global Lubricants Industry: Market Analysis and Assessment, Castrol ranked third in global market share of finished lubricants in 2011, at 7 percent, behind Shell (13 percent) and ExxonMobil (10 percent). Kline estimated global lubricant consumption at 38.6 million metric tons in 2011.

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