The Chairman of Cadbury Nigeria Plc, Mr Atedo Peterside, has resigned.
In his resignation letter dated 29th June 2020, Peterside recalled that he had broached the subject of resigning a few weeks ago and said Tuesday would mark his last day as chairman.
He said, “Whilst thanking you all for your continued support and understanding, I firmly believe that the end of this half year, 30 June, 2020, should mark my last day because it is also an almost natural point of transition.”
He mentioned that the Managing Director, Mrs Oyeyimika Adeboye, had settled nicely and consolidated her position over the course of the last 15 months.
Peterside also said the company was on a profitability path that could be sustained if normal trading conditions were allowed to prevail.
He noted that his departure from the board would enable the company to inject a new independent director into the fold.
Peterside said, “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.
“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.”
He said after spending 10 years as chairman, he believed this was the right time to move on to concentrate on other challenges.