- After eight years in the position
- Jon Cherry taking over
- Sayer said 89 words
(exechange) — Boise, Idaho, March 14, 2024 — Laurel Sayer, chief executive of Perpetua, leaves her position. As announced by Perpetua Resources Corp. in a news release and in a regulatory filing published on Thursday, March 14, 2024, Laurel Sayer leaves her post as chief executive officer at the mining company, after eight years in the role, effective immediately.
Generally speaking, it raises questions when a CEO leaves her post abruptly.
Laurel Sayer’s duties as CEO will be taken over by Jonathan (Jon) Cherry, most recently Chief Executive Officer at PolyMet Mining.
The fact that Laurel Sayer’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“It’s time”
The management change is explained as follows. Laurel Sayer stated: “I joined Perpetua with the goal of securing a Record of Decision for the Stibnite Gold Project. Now, with our final Record of Decision expected in 2024, it’s time to pass the baton to the leader who will take Perpetua into our next phase of development.”
Precise information regarding Laurel Sayer’s future plans was not immediately available.
“Step down/resignation”
Perpetua said: “Perpetua Resources’ President and CEO, Laurel Sayer, has notified the Board of Directors of her intent to step down as President and CEO and a member of the Board of Directors of the Company effective March 14, 2024 and to retire effective April 1, 2025 after seven years of leading the Company through the permitting process.”
Perpetua further said: “On March 13, 2024, Laurel Sayer tendered her notice of resignation to the board of directors (the “Board”) of Perpetua Resources Corp. (the “Company”), notifying the Company of her resignation as President and Chief Executive Officer of the Company and as a member of the Board, effective March 14, 2024, and retirement from the Company on April 1, 2025.”
“Not due to any disagreement”
Perpetua stated, regarding the change: “Ms. Sayer’s resignation as President and Chief Executive Officer of the Company and as a member of the Board was not due to any disagreement with the Company.”
Share price decline since March 2021
The announcement follows a decline in Perpetua Resources Corp.’s share price of 35% since March 2021.
In the position of CEO since 2016
Laurel Sayer became CEO of the Company in 2016.
Laurel Sayer, based in Boise, Idaho has served as President and CEO of Perpetua Resources, since 2016.
Before her appointment as CEO, Sayer served on the Perpetua Resources Corp. Board for two years.
Prior to her appointment to the Perpetua Resources Board, she worked as the executive director of the Idaho Coalition of Land Trusts (ICLT), which is dedicated to supporting and advancing private land conservation in Idaho.
Sayer also spent more than two decades working on policy matters with Idaho Congressman Mike Simpson and Idaho United States Senator Mike Crapo, with an emphasis on natural resource issues.
89 words by Laurel Sayer
In announcing her departure, Laurel Sayer said 89 words.
“Working hand-in-hand with Jon”
Laurel Sayer stated: “I joined Perpetua with the goal of securing a Record of Decision for the Stibnite Gold Project. Now, with our final Record of Decision expected in 2024, it’s time to pass the baton to the leader who will take Perpetua into our next phase of development. Leading the Perpetua Resources team has been the greatest accomplishment of my career, and over the next year, I remain committed to securing our Record of Decision and working hand-in-hand with Jon to sustain Perpetua’s vision, culture, and commitments well into the future.”
The above text is an excerpt from the exechange report 12.2024 ($), publication date March 18, 2024.