Veteran uranium executive John Borshoff will step down as MD and CEO of Deep Yellow, marking the end of a career that has spanned five decades in the global uranium industry.

The ASX200-listed uranium developer said on Monday that Borshoff would leave his executive role effective October 20, 2025, but would remain with the company as an adviser until the end of November to ensure a smooth transition.

Borshoff, who joined Deep Yellow in 2016, has overseen its transformation from a junior explorer into a company on the cusp of becoming a multi-asset, multi-jurisdiction uranium producer.

“Besides his invaluable leadership of Deep Yellow, the board wishes to sincerely thank John for his five decades of contribution to the global uranium industry,” the company said in a statement. “His work has spanned from exploration to mine construction and production, including founding Paladin Energy Limited. John has been influential in shaping the broader uranium industry through his work in many industry advocacy forums and has been a persuasive advocate for the role of nuclear energy in the global decarbonisation challenge.”

The company praised Borshoff for building “one of the most experienced uranium mining leadership teams in the industry” and said he leaves behind “an incredible legacy".

Deep Yellow said a global search for Borshoff’s successor was at an advanced stage, with an announcement to follow once the process is complete.

In the interim, CFO Craig Barnes would step in as acting CEO. Barnes, who joined Deep Yellow in August 2024, has more than 20 years of experience in the resources sector, including five years as CFO of Paladin Energy. 

Nonexecutive chair Chris Salisbury, a former Rio Tinto executive who led Energy Resources of Australia and the Rössing uranium mine, will temporarily assume an executive chair role to support the transition. 

Deep Yellow said it remained “confident and excited” about the future as it advanced its strategy to become a global, multi-project uranium producer. The company is nearing a final investment decision on its flagship Tumas project in Namibia, continuing feasibility work at the Mulga Rock project in Western Australia, and progressing exploration at the Alligator River project in the Northern Territory.