Perenti Limited (ASX: PRN), a diversified mining services group with interests in contract mining, drilling services, mining services and technology solutions, has initiated a succession process for its Managing Director & CEO. The current Managing Director & CEO, Mark Norwell, will step down from his position in calendar year 2026, following an orderly transition period. The Board of Directors has commenced a comprehensive search, both internally and externally, to identify a successor to lead the company into its next phase of growth.
The decision to begin the succession process comes after the successful completion of the company’s 2025 Strategy. According to Perenti, recent growth has positioned the company with significant scale and a strong balance sheet, providing a solid platform for the incoming Managing Director & CEO to drive future expansion. Mr Norwell will remain fully engaged throughout the transition and will work closely with the Board and the new appointee to ensure a seamless handover and continuity across the business.
Diane Smith-Gander AO, Chair of Perenti, acknowledged Mark Norwell’s contribution since joining the business in September 2018, highlighting his role in embedding a strong culture, building a high-performance leadership team, and developing a focused strategy. She noted that under Mr. Norwell’s leadership, Perenti has experienced substantial growth, quadrupling its revenue, doubling its workforce, and increasing its market capitalisation from approximately $900 million to over $2.7 billion.
Mark Norwell expressed his honour in leading Perenti over the past seven years and his pride in the accomplishments of the team. He affirmed his commitment to leading the company and ensuring the safe delivery of operations until the transition is complete. Once a new Managing Director & CEO is appointed, Mr. Norwell will work closely with that individual to ensure a smooth transition. The transition process is expected to commence in the first half of calendar year 2026.
