Paladin Energy has retained faith in founding managing director John Borshoff that will see him continue to run the Perth uranium miner until the end of 2016.
By then, Mr Borshoff will have clocked up 23 years in charge of Paladin, the biggest and most successful of Australia's independent pure-play uranium stocks.
Paladin flagged in November year when it extended Mr Borshoff's employment contract until the end of this year that both sides had agreed to an option for a further one to two-year extension.
That extension, to December 2016, was agreed by both sides and announced today.
Mr Borshoff will continue to be paid a base salary of $1.38 million a year though there will be a review date at the end of this year at which his pay will be increased at least in line with inflation.
Paladin shares dropped 1 cent to 41 cents.