Perma-Pipe International Holdings,has announced that Chief Executive Officer (CEO) David Mansfield will retire on or before November 8, 2025. To ensure a seamless leadership transition, the company has appointed Saleh Sagr as President, effective immediately. Mr. Mansfield will continue in his role as CEO and as a director until his retirement date.
David Mansfield’s Tenure and Contributions
David Mansfield has been at the helm of Perma-Pipe since November 2016, bringing a wealth of experience in financial and strategic management. Prior to joining Perma-Pipe, he served as Chief Financial Officer (CFO) of Compressor Engineering Corp. & CECO Pipeline Services Co. from 2015 to 2016, where he was responsible for the group’s financial affairs, including the development and execution of turnaround plans and successful corporate refinancing. From 2009 to 2014, Mr. Mansfield held the roles of CFO and Acting CEO at Pipestream, Inc., a venture capital-owned technology development company serving the oil and gas pipeline industry. His earlier career includes a significant tenure at Bredero Shaw, the world’s largest provider of protective coatings for the oil and gas pipeline industry, where he served in various capacities, including Vice President of Strategic Planning. investors.permapipe.com+1Permapipe+1Permapipe+1investors.permapipe.com+1
Reflecting on his decision to retire, Mr. Mansfield stated, “Leading Perma-Pipe has been one of the greatest honors of my career. Over the last eight years, I’ve had the distinct privilege of working alongside some of the best, brightest, and most dedicated individuals, and together we have achieved remarkable things. I’m deeply thankful to the employees, shareholders, and partners who have supported me over the years. Our journey has been nothing short of extraordinary, and I leave knowing that the Company is in a strong position to continue thriving for years to come. I look forward to watching the next chapter unfold with great optimism and enthusiasm.”
Appointment of Saleh Sagr as President
In conjunction with Mr. Mansfield’s retirement announcement, Perma-Pipe has appointed Saleh Sagr as President. Mr. Sagr has been with the company since May 2019, initially serving as Vice President of the Middle East and North Africa (MENA) region. In June 2021, he was promoted to Senior Vice President for MENA, overseeing operations in the U.A.E., Saudi Arabia, India, and Egypt. Permapipe
Before joining Perma-Pipe, Mr. Sagr co-founded Global Anti Corrosion Techniques Co. Ltd in Saudi Arabia in 2005, where he served as General Manager. His earlier career includes various roles at BrederoShaw from 1995 to 2005, focusing on engineering, startups, and operations management. Over the past 15 years, Mr. Sagr has gained extensive experience in strategic planning, business development, startups, and turnarounds.
On his appointment, Mr. Sagr commented, “I am grateful to David and the Board of Directors for this opportunity to build upon Mr. Mansfield’s success. I have had the pleasure of working with David for the past five years at Perma-Pipe, over which time I have learned a lot under his leadership. He will be missed as CEO. I am honored to build upon his success and to continue working toward materializing our collective vision for the Company and execute on strategic initiatives we have planned for the future.”
Board of Directors’ Perspective
Jerome Walker, Chairman of the Board of Directors, expressed his appreciation for Mr. Mansfield’s leadership, stating, “Dave Mansfield has done a tremendous job as CEO, turning around a languishing Company, navigating it through some difficult times and emerging it into the strong, profitable growth engine it is today. The Board has worked diligently with David on succession planning to ensure a seamless transition and continuance of Company performance.”
Appointment of Adham Samir Sharkawy as Senior Vice President of MENA
As part of the leadership transition, Perma-Pipe has appointed Adham Samir Sharkawy to succeed Mr. Sagr as Senior Vice President of the MENA region. Mr. Sagr expressed confidence in Mr. Sharkawy’s abilities, stating, “Adham has done a tremendous job and demonstrated significant growth during his tenure. I am confident that he will continue to capitalize on MENA’s success.”
Mr. Mansfield also commented on the appointments, saying, “Appointing Mr. Sagr and Mr. Sharkawy to their respective positions ensures a smooth transition and continuity for the organization. The Company has significantly benefited from their presence, and their appointments ensure that continues for the foreseeable future.”
Perma-Pipe International Holdings, Inc. Overview
Perma-Pipe International Holdings, Inc. is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. The company leverages its extensive engineering and fabrication expertise to develop piping solutions that address complex challenges related to the safe and efficient transportation of various liquids. Perma-Pipe operates at fifteen locations across six countries. investors.permapipe.com+1investors.permapipe.com+1
The leadership changes at Perma-Pipe reflect a strategic approach to succession planning, ensuring that the company’s trajectory of growth and innovation continues seamlessly. With Mr. Sagr’s appointment as President and Mr. Sharkawy’s promotion to Senior Vice President of MENA, Perma-Pipe is well-positioned to build upon its successes and navigate future opportunities in the industry.
