Perma-Pipe Board member Cynthia Boiter resignation and Chairman Jerome T. Walker not standing for re-election

07.01.2025 - 06:32:34

Perma-Pipe International Holdings, Inc. Announces the Appointment of Ibrahim Jaham Al Kuwari to its Board of Directors

Business Wire India

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), today announced changes to its Board of Directors, including the appointment to the Board of Mr. Ibrahim Jaham Al Kuwari, effective January 6, 2025.

Concurrent with this announcement, Independent Director Cynthia Boiter has announced her resignation, effective May 1, 2025, and current Chairman of the Board, Jerome Walker, has announced he will not be standing for re-election at Perma-Pipe’s upcoming 2025 Annual Stockholders Meeting. They will both be transitioning their Board responsibilities over the coming months.

President and CEO, Mr. David Mansfield commented, “Ms. Boiter has been a valued Board member since 2019, providing significant insight and support to the Company, particularly in the areas of corporate governance and financial management.

"Mr. Walker has been a long-time member of our Board, joining in 2014 and assuming the Chairmanship in 2022. He has helped guide the Company and the Board through significant strategic repositioning and growth transformation into the strong global leader we are today, as evidenced by our recent earnings and stock performance.

"We thank both of them for their commitment, service, and contributions to our employees and stockholders, and wish them the very best.”

Mr. Mansfield continued, “We regularly evaluate our Board composition to ensure it includes the appropriate skills, experience, and perspectives necessary to drive growth for our stockholders. We also strive to keep the Board refreshed to maintain diversity of thought and contemporary insights consistent with industry best practices. The addition of Mr. Al Kuwari as an Independent Director will bring new and extensive Middle East Gulf Region expertise and perspective to the Board, which is critical given the rapid growth and significant potential the region provides to the Company. We are extremely pleased to have him join our Board."

Mr. Al Kuwari, a Qatari national, has extensive business leadership, engineering, planning and project management expertise, serving as CEO of Qatar Solar Technologies from 2018-2024, CEO of Qatar Fuel from 2014-2017, and as Deputy General Manager of Dolphin Energy, Ltd, from 2005-2014. He graduated from the University of Southern California in 1987 with a Bachelor of Science degree in Industrial and Systems Engineering.

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH, “Perma-Pipe”, or the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fifteen locations in six countries.

Forward-Looking Statements

and under the Investor Center section of our website (http://investors.permapipe.com).