Paladin Energy Limited
(ASX:PDN) has extended John Borshoff's term as chief executive and managing director.
Mr Borshoff will continue in the roles until December 31, 2014, with an option to extend for up to two years depending on performance.
The uranium producer says it recognises the vital importance of Mr Borshoff's contribution to the strategic negotiations concerning a Langer Heinrich minority interest sale and debt reduction.
His initial base pay will be the current reduced salary of $1.38 million, but could rise to $1.534 million if certain spot price levels eventuate and other strategic objectives are achieved.
His pay will be reviewed if his term is extended.
Paladin Energy posted a net loss of $511 million in fiscal 2013.
