Atedo Peterside resigns as Cadbury chairman

Chairman of Cadbury Nigeria Plc, Atedo Peterside, has resigned after 10 years of meticulous service.

In a statement obtained by The Guardian, Peterside said he broached the subject of resigning his position a few weeks ago, and believed it was the right time for him to move on to concentrate on other challenges.

He said his departure would enable the company to inject a new independent director into the fold.

He maintained that the company was on a profitability path that could be sustained if normal trading conditions are allowed to prevail.

While commending the management for their continued support and understanding, he said: “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. 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 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.