Perseus (ASX:PRU) the latest ASX 200 company to boost gender diversity

Perseus Mining (ASX: PRU), one of the S&P/ASX 200 Index's (ASX: XJO) most gender imbalanced boards, is taking a step towards gender diversity.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

One of the S&P/ASX 200 Index's (ASX: XJO) most gender imbalanced boards is taking a huge step towards gender diversity. Perseus Mining Limited (ASX: PRU) today announced it will welcome Amber Banfield to the role of non-executive director, starting tomorrow.

Banfield's appointment means 28.5% of those on the gold mining company's board will now be women.

While that's still a way off the leaders of gender equality among ASX 200 companies – 110 have more than 30% female board memberships – it's a positive step for the company.

According to Bloomberg, earlier this year Perseus was in the bottom 5% of ASX 200 companies in terms of female representation on its board. Before today, only 17%, or one in six, of its board members were women.

Let's take a closer look at the new appointment.

Back os ASX 200 woman executive looking out high rise office window

Image source: Getty Images

New non-executive director 

Banfield will be taking on the newly created role of chair of the board's audit and risk committee. She will be responsible for overseeing Perseus' ESG functions.

She is currently global manager of mergers and acquisitions at Worley Ltd (ASX: WOR), the world's largest energy and resources engineering services provider.

Banfield has worked with Worley for 20 years, having previously held the role of global strategy director. Her responsibilities have included developing and implementing an energy transition strategy to grow the decarbonisation of businesses, using measures such as hydrogen and renewable energy.

Banfield has a Bachelor of Engineering (Environmental and Civil) and a Master of Business Administration.

Following her appointment, the board Perseus now comprises seven people, two of whom are women.

Commentary from management

Perseus managing director and CEO Jeff Quartermaine commented on Banfield's appointment, saying:  

Speaking on behalf of our [chair] Sean Harvey and the entire board of Perseus, it is a pleasure to welcome non-executive director, Amber Banfield, to the board of Perseus… As a board and management team, we look forward very much to working with Amber as we collectively strive to firmly establish Perseus as a profitable, reliable and sustainable mid-tier gold mining company.

Perseus share price snapshot

Unfortunately, news of the company's appointment has not been sufficient to lift the Perseus share price today. At the time of writing, Perseus shares are trading 4.25% lower at $1.24.

The Perseus share price has fallen by around 8% year to date. It has, however, gained 16% over the last 12 months.

The company has a market capitalisation of around $1.6 billion, with approximately 1.2 billion shares outstanding.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Resources Shares

Businesswoman holds hand out to shake.
Resources Shares

Is this ASX lithium stock a takeover target? Sure looks like it

This company's shares could rocket if the rumours are true.

Read more »

An engineer takes a break on a staircase and looks out over a huge open pit coal mine as the sun rises in the background.
Broker Notes

Up 49% in a year, should you buy BHP shares for their 'stability and income'?

A leading expert delivers his forecast for BHP’s fast-rising shares.

Read more »

Industrials Shares

Mader Group shares are up 700% in 5 years. Is patience about to pay off again?

Profit up. Share price flat. For long-term investors, that kind of disconnect can be exactly where opportunity hides.

Read more »

Happy woman miner with her thumb up signalling Wyloo's commitment to back IGO's takeover of Western Areas nickel
Resources Shares

3 reasons to buy BHP shares now and hold for the next decade

Strong operations, dividends, and long-term demand support its appeal.

Read more »

Young successful engineer, with blueprints, notepad, and digital tablet, observing the project implementation on construction site and in mine.
Resources Shares

This ASX lithium company could more than double in value one broker says, after a "transformational" funding deal

This company will be cashed up after this new agreement goes through.

Read more »

A woman stands in a field and raises her arms to welcome a golden sunset.
Resources Shares

Newmont shares jump again as record cash flow and buyback boost sentiment

Newmont shares rise after reporting record cash flow and expanded buybacks.

Read more »

Calculator and gold bars on Australian dollars, symbolising dividends.
Resources Shares

Newmont declares quarterly dividend for ASX investors

Newmont Corporation declares a US$0.26 quarterly dividend for ASX investors, with payment to follow in June 2026.

Read more »

Lakes in the form of footsteps among the green trees, indicating steps towards a healthier planet.
Resources Shares

Fortescue invests $680m in Pilbara Green Energy Project

Fortescue commits US$680 million to expand Pilbara green energy infrastructure, aiming to meet increasing industrial and data centre demand.

Read more »