Perseus Mining Limited (ASX/TSX: PRU) has announced that its long-serving Managing Director and Chief Executive Officer, Jeff Quartermaine, will retire from his position effective 30 September 2025.
The company disclosed that after stepping down, Mr. Quartermaine will remain involved with the company in a consultancy capacity under market terms, offering continuity and support during the leadership transition.
Perseus Chairman Rick Menell expressed deep appreciation for Quartermaine’s contribution to the company, describing him as the architect behind one of Africa’s most successful gold producers.
He praised Quartermaine’s ability to turn Perseus into a profitable and respected player in the global mining sector, stating that he had laid “extremely solid foundations” for the company’s future growth.
“On behalf of the Board, I would like to express my most sincere gratitude to Jeff for his leadership and guidance over the years.
“Jeff has transformed Perseus and has been pivotal in turning it into one of the most profitable gold producers in the world.”
Perseus Chairman Rick Menell
Mr. Quartermaine, who first joined Perseus in 2010 as Chief Financial Officer, was appointed CEO in 2013. Over the past 12 years, he has led the company through a period of remarkable transformation.
Under his leadership, Perseus has evolved from a struggling, single-mine operation in one country into a dynamic, multi-mine, multi-jurisdictional gold producer, developer, and explorer.
Today, Perseus operates three gold mines: Edikan in Ghana, and Yaouré and Sissingué in Côte d’Ivoire, with a fourth mine, Nyanzaga in Tanzania, currently under development and on track for first gold production in the first quarter of calendar year 2027.
In his farewell statement, Mr. Quartermaine reflected on his tenure at Perseus with a mix of pride and gratitude.
He described his time leading the company as both an honour and a privilege, emphasizing that the journey had brought significant benefits not just to shareholders, but also to the host communities in Africa where Perseus operates.
He acknowledged the critical role played by his team and their families in the company’s success, noting that their commitment and friendship were instrumental in navigating challenges, including the global COVID-19 pandemic.
“Not only has the company been transformed into a credible ASX 100 organisation.
“But during this time, we have generated significant benefits for all of our stakeholders, including many in our host communities in Africa whose lives have been significantly improved through Perseus’s endeavours.”
Managing Director and Chief Executive Officer, Jeff Quartermaine,
He added that he was “deeply indebted” to his colleagues, past and present, and paid tribute to the support of his family, which he said had made the journey easier and more meaningful.
Craig Jones Appointed New CEO
Taking the helm from 1 October 2025 will be Craig Jones, a seasoned mining executive with over 25 years of global experience across Australia, Papua New Guinea, Indonesia, and Canada.
Mr. Jones will officially join Perseus on 18 August 2025, allowing a transition period before assuming the role of MD and CEO.
Jones previously held several senior roles at Newcrest Mining, where he joined in 2008 and rose to become Chief Operating Officer.
During his time at Newcrest, he oversaw operations across five jurisdictions and played a vital role in strategy development, due diligence, and stakeholder engagement.
He was also involved in high-level negotiations with governments, communities, and Indigenous groups, further strengthening his credentials as a globally connected and socially conscious leader.
Beyond his executive roles, Mr. Jones served on the boards of SolGold and Lundin Gold and represented Newcrest on joint venture committees such as the Morobe Mining Joint Venture in Papua New Guinea and the Red Chris Joint Venture in British Columbia.
His leadership style, described as principled, empathetic, and safety-driven, has earned him widespread respect within the industry.
Chairman Menell welcomed Jones’s appointment, describing him as the ideal leader to guide Perseus through its next growth phase amid increasing global complexity in the mining sector.
He noted that Mr. Jones brings a wealth of technical, operational, and strategic insight that aligns with the company’s vision for sustainable growth. “Perseus is going through a significant phase of growth, in an environment that is getting increasingly complex,” Mr. Menell said.
“We need a leader of Craig’s calibre to build on Jeff’s incredible legacy. Craig brings a deep understanding of complex operating jurisdictions and stakeholder management, and a clear commitment to sustainable practices.”
Perseus Chairman Rick Menell
Mr. Jones will be based at Perseus’s head office in Perth, Western Australia, where he is expected to lead the company into its next chapter of strategic expansion and operational excellence.
With a stable leadership transition in place, Perseus Mining appears well-positioned to continue its trajectory as one of the most dynamic and reliable mid-tier gold producers operating on the African continent.
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