Perma-Pipe International Holdings has announced that CFO Bryan Norwood will retire, effectively immediately. He will be replaced by Matt Lewicki, who is currently the Chief Accounting Officer.
Perma-Pipe designs and manufactures specialty piping and leak detection systems. It has revenues of $140 million and a market capitalization of $66 million. The company appointed David Mansfield, a Houston-based CEO, in 2016 and officially moved its head office from Illinois to Spring, TX in 2020.
Mr. Norwood, 68, joined the company in October 2018. He and Mr. Mansfield had worked together at Bredero Shaw, a pipe coating provider. Mr. Norwood also worked at Key Energy and API Perforating.
Mr. Lewicki joined the company in May 2023. Prior to that, from 2019 to April 2023, he was Corporate Controller for HMT Holdings, an oil and gas infrastructure company. Before that he spent six years at Quanta Services.
Mr. Lewicki will receive a base salary of $275,000.