Leadership Shift at Perseus Mining: Can New CEO Sustain Growth Momentum?
Perseus Mining announces the retirement of long-serving CEO Jeff Quartermaine, who transformed the company into an ASX100 gold producer. Craig Jones, former Newcrest COO, will take the helm in October 2025, steering Perseus through its next growth phase.
- Jeff Quartermaine to retire as Perseus MD and CEO on 30 September 2025
- Quartermaine led transformation from single mine to multi-jurisdictional gold producer
- Craig Jones, ex-Newcrest global COO, appointed new MD and CEO starting October 2025
- Perseus operates three gold mines in Africa with a fourth under construction
- Jones brings extensive global mining leadership and sustainability focus
Leadership Transition Marks a New Chapter
Perseus Mining Limited has announced a significant leadership change with the planned retirement of its Managing Director and CEO, Jeff Quartermaine, effective 30 September 2025. After 12 years at the helm, Quartermaine’s departure marks the end of an era that saw Perseus evolve from a struggling single-mine operation into a respected multi-mine, multi-jurisdictional gold producer listed in the ASX100.
Quartermaine joined Perseus in 2010 as Chief Financial Officer before stepping into the CEO role in 2013. Under his leadership, the company expanded its footprint across Africa, operating three gold mines, Edikan in Ghana, Yaouré and Sissingué in Côte d’Ivoire, and progressing construction of the Nyanzaga mine in Tanzania, slated to begin production in early 2027.
Incoming CEO Brings Global Expertise
Taking over from Quartermaine will be Craig Jones, a seasoned mining executive with over 25 years of international experience. Jones, who served as global Chief Operating Officer at Newcrest Mining, brings a wealth of operational and strategic expertise from diverse jurisdictions including Australia, Papua New Guinea, Indonesia, and Canada.
Jones is recognized for his values-driven leadership style, emphasizing safety, sustainability, and strong stakeholder engagement. His appointment signals Perseus’s intent to maintain its growth trajectory and operational excellence amid increasingly complex mining environments.
Strategic Continuity and Future Prospects
Perseus’s Chairman Rick Menell praised Quartermaine’s transformative impact and expressed confidence in Jones’s ability to build on this foundation. The company’s ongoing projects, particularly the Nyanzaga mine, position Perseus well for continued expansion in Africa’s gold sector.
Jones will commence with Perseus on 18 August 2025 and officially assume the CEO role on 1 October 2025. His employment package includes a fixed remuneration of AU$1.06 million plus performance-based incentives, reflecting the company’s commitment to attracting top-tier leadership.
As Perseus navigates this leadership transition, investors and stakeholders will be watching closely to see how the new CEO’s vision and operational approach influence the company’s performance and strategic direction.
Bottom Line?
Perseus’s leadership handover sets the stage for sustained growth amid evolving challenges in African gold mining.
Questions in the middle?
- How will Craig Jones’s leadership style influence Perseus’s operational priorities?
- What strategic shifts might occur as Perseus advances the Nyanzaga project?
- How will the company maintain momentum in complex African jurisdictions under new management?
