Who Will Lead Perenti After Mark Norwell’s Transformative Tenure?
Perenti Limited has announced a planned succession for its Managing Director & CEO, Mark Norwell, who will step down in 2026 after steering the company through a transformative growth phase. The board is actively searching for a successor to continue this momentum.
- Mark Norwell to step down as CEO in 2026
- Board initiates internal and external search for successor
- Norwell led significant growth, quadrupling revenue since 2018
- Successful acquisitions of Barminco and DDH1 under Norwell’s leadership
- Transition process to begin in first half of 2026 with a dedicated handover
Leadership Transition Announced
Perenti Limited (ASX, PRN), a major player in the mining services sector, has formally commenced the process to appoint a new Managing Director & CEO. Mark Norwell, who has helmed the company since 2018, will step down in calendar year 2026 following a carefully planned transition. The board has launched a comprehensive search both internally and externally to find a successor capable of leading Perenti into its next chapter.
A Legacy of Growth and Transformation
Under Norwell’s stewardship, Perenti has undergone a remarkable transformation. The company’s revenue has quadrupled, its workforce doubled, and market capitalisation surged from approximately $900 million to over $2.7 billion. This growth was driven by strategic acquisitions such as Barminco and DDH1, geographic diversification, and disciplined execution of a focused strategy. Norwell’s leadership has been credited with embedding a strong culture and building a high-performance leadership team.
Ensuring Continuity and Stability
The board and Norwell emphasize a seamless leadership handover. Norwell will remain fully engaged during the transition period, working closely with the incoming CEO to maintain operational momentum and strategic focus. The transition is expected to begin in the first half of 2026, ensuring continuity across Perenti’s global operations.
Board Confidence and Future Outlook
Perenti Chair Diane Smith-Gander AO praised Norwell’s contributions, highlighting the company’s strengthened position and readiness for future growth. The board’s proactive approach to succession planning reflects confidence in Perenti’s robust platform and the talent within the organisation. Investors will be watching closely as the company navigates this pivotal leadership change.
Bottom Line?
Perenti’s leadership transition marks a critical juncture, with the next CEO tasked to build on a strong foundation and sustain growth momentum.
Questions in the middle?
- Who will emerge as the new Managing Director & CEO, and what strategic vision will they bring?
- How will the leadership change affect Perenti’s ongoing projects and client relationships?
- Will the new CEO continue the aggressive acquisition strategy that defined Norwell’s tenure?
