KEY POINTS
- CEO Jeff Quartermaine will step down after 12 years; he was in charge of the company’s growth into West Africa and entry into the ASX100.
- Craig Jones, who used to be the COO of Newcrest, is now the CEO and has experience in mining around the world.
- Perseus made more than $60 billion in sales last year. By 2027, the company will open its fourth mine in Tanzania.
Jeff Quartermaine will leave his job as CEO on September 30, 2025. He helped make Perseus Mining Ltd. one of Australia’s best gold producers.
He’ll pass the reins to Craig Jones, a long-time employee of Newcrest who will start working there in August and therefore take over as CEO in October.
Quartermaine started working for the company as CFO in 2010 and became CEO in 2013. He took Perseus from a single-mine company to a multibillion-dollar producer with mines in Ghana, Côte d’Ivoire, and a fourth project in Tanzania that is still being built.
Under his leadership, Perseus made $60.37 billion in sales and also $2.82 billion in EBITDA in just the past year. In June, the company also made it into the ASX100. After he retires, he is expected to keep working as a consultant.
The new CEO has 25 years of experience in operations
Jones has worked for Newcrest for more than ten years and has experience running businesses in Australia, Indonesia, Papua New Guinea, and Canada. He will work out of the company’s main office in Perth.
He gets a set annual salary of A$1.06 million, plus short-term bonuses worth 75% of his base pay and long-term bonuses worth up to 150%.
“Jeff has changed Perseus and also played a big role in making it one of the most profitable gold producers in the world,” said Chairman Rick Menell.
