Entrepreneur and economist, Atedo Peterside has resigned from his role as Chairman of Cadbury Nigeria Plc.
In a statement announcing the resignation, Peterside thanked the company for its support while hoping that his departure will create an opportunity for the injection of a new director to further diversity. He also explained that the action was to enable him to concentrate on other challenges.
The statement read in part: “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 endeavors and also extend my regards to the majority shareholder, the minority shareholders, the distributors and all other stakeholders.
“May the good Lord continue to bless you all.”
Peterside served as Chairman of Cadbury Nigeria Plc for 10 years before his resignation.