The chairman of the board of directors of Cadbury Nigeria Plc, Mr Atedo Peterside, has resigned from the Company.
This was made known in a notification on the Nigerian Stock Exchange (NSE) signed by the Company secretary of Cadbury Nigeria, Fola Akande.
The Company said Peterside resignation takes effect from yesterday, June 30, 2020 to concentrate on other interests.
According to the Company, he has been a member of the board of directors from August 5, 2009 and became chairman on April 21, 2010.
“The board of directors of the Company acknowledge and sincerely express their gratitude to Peterside for his leadership, service and immense contributions to Cadbury Nigeria Plc while he was on the Board.”
Peterside thanked the management and stakeholders of the Company for their continued support and understanding, saying that “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.”
He said 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 skill sets.”
He added that “I have spent 10 years as chairman of Cadbury and I believe this is the right time for me to move on to concentrate on other challenges.”