Waterman began his career in consumer marketing in 1987, holding brand management roles at Reckitt Benckiser and Kraft Foods.

The new entity, OPTIS,[13] develops technology and services to enable manufacturers of machined parts to improve efficiency in their operations and across the supply chain.

Two years later 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.

[14][15] Following his years at BP, Waterman took up the role of Group CEO and President of Elementis Plc, a UK based chemicals production company.

[17] SummitReheis manufactures and distributes antiperspirant chemicals for deodorants and dental products, a $13Bn industry[18][19] ""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.

Mondo Minerals makes industrial talc additives used to strengthen plastics, provide corrosion resistance to coatings, an oxygen barrier to food packaging and UV protection to cosmetics.

In 2023 Waterman acquired ownership of the Library Restaurant - in the historic Rockingham Hotel and The Fisherman's Catch in Wells, Maine.