Perseus Mining CEO Quartermaine to retire, former Newcrest exec to take helm

PERTH - Perseus Mining Limited (ASX/TSX:PRU), a mining company with a market capitalization of $36.45 billion and strong financial health according to InvestingPro data, announced Friday that Managing Director and Chief Executive Officer Jeff Quartermaine will retire on September 30, 2025, after serving 12 years in the role.

Craig Jones, former Newcrest global Chief Operating Officer, will join Perseus on August 18 and assume the CEO position on October 1, 2025.

Quartermaine, who joined Perseus in 2010 as Chief Financial Officer before becoming CEO in 2013, has transformed the company from a single-mine operation to a multi-jurisdictional gold producer with three operating mines in Ghana and Côte d’Ivoire. Under his leadership, the company has achieved impressive financial results, generating $60.37 billion in revenue and $2.82 billion in EBITDA over the last twelve months. A fourth mine in Tanzania is under construction and expected to begin production in the first quarter of 2027.

Under Quartermaine’s leadership, Perseus joined the ASX100 index in June 2025.

"Jeff has transformed Perseus and has been pivotal in turning it into one of the most profitable gold producers in the world," said Perseus Chairman Rick Menell in the company statement.

Jones brings over 25 years of global experience from positions at Newcrest, where he served as a member of the executive team since 2012. His experience includes operations across Australia, Papua New Guinea, Indonesia, and Canada.

The incoming CEO will receive total fixed remuneration of AU$1,060,000 per annum, including superannuation, with a target short-term incentive opportunity of 75% of his fixed remuneration and long-term incentive participation at 150%.

Jones will be based at Perseus’s head office in Perth, Western Australia.

According to the press release, Quartermaine has agreed to continue supporting the company through a consultancy agreement following his retirement. For detailed analysis and additional insights about Perseus Mining’s performance and prospects, including exclusive Fair Value calculations and financial health scores, visit InvestingPro, where you’ll find comprehensive research reports and expert analysis.

In other recent news, Prudential Financial Inc. reported its second-quarter earnings for 2025, exceeding expectations with earnings per share (EPS) of $3.58, compared to the forecasted $3.24. However, the company’s revenue slightly missed projections, coming in at $13.5 billion against an anticipated $13.54 billion. Despite this revenue shortfall, the earnings beat is a notable development for the company. The financial results have garnered attention from analysts and investors alike. Analyst firms have not publicly issued new ratings following these earnings, but the financial performance could influence future evaluations. These developments highlight Prudential Financial’s ongoing financial activities and market presence. Investors often closely monitor such earnings reports for insights into the company’s financial health.

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