By Francis Ogwo
Entrepreneur and economist, Atedo Peterside, has resigned from his role as Chairman of Cadbury Nigeria Plc.
This was made public in a statement on Tuesday. Announcing his resignation, Peterside appreciated the company for supporting his career while he held sway and hoped that his exit will usher in a new director with a new drive.
On the reason for his resignation, Peterside stated that he needed to focus on some other issues.
Part of the statement read, “Whilst thanking you all for your continued support and understanding, I firmly believe that the end of this half-year i.e. 30 June, 2020 should mark my last day because it is also an almost natural point of transition. We successfully held our 55th Annual General Meeting last week and our Managing Director has settled nicely and consolidated her position over the course of the last 15 months.
“The company is on a profitability path that can be sustained if normal trading conditions are allowed to prevail.
“The Board of Cadbury is well endowed and my departure from the Board also enables the company to inject a new independent director into the fold. The periodic injection of “new blood” is good for the system especially when further diversity is achieved in the process viz geography, demography and the injection of new and varied skillsets.
“I wish the Board, management and staff all the best in your future endeavours and also extend my regards to the majority shareholder, the minority shareholders, the distributors and all other stakeholders,” Peterside concluded.
Born in 1955, Atedo Peterside attended Kings College, Lagos; the City University, London; and the London School of Economics and Political Science, LSE. Delving into the world of business at the age of 33, he applied for and secured the licence to start the Investment Banking and Trust Company, IBTC, Limited.
He sits atop boards of several multinational companies as Chairman.