The Chairman of the Board of Directors of Cadbury Nigeria Plc, Atedo Peterside, has quit the company, AllNew can confirm. Peterside resigned from his position and expected to exit Cadbury effective immediately. This is three months after he resigned as a Non-Executive Director on Flour Mills Nigeria Plc's board of directors.
The founder of Stanbic IBTC Bank Plc took over the position (Flour Mill)10 years ago after he became a member of the Board of Directors in August 2009. The reason for his immediate exit wasn't stated, but Cadbury Nigeria stated that he resigned to concentrate on other interests. The company commended Peterside for his leadership during his time as chairman of the Board of Directors of Cadbury Nigeria.
"This is to notify the Nigerian Stock Exchange (“The NSE”) that the Chairman of the Board of Directors of Cadbury Nigeria Plc – Mr. Atedo Peterside, CON-resigned from the Board effective 30th June 2020 to concentrate on other interests. Mr. Peterside has been a member of the Board of Directors from 5th August 2009, and became Chairman on 21stApril 2010.
"The Board of Directors of the Company acknowledge and sincerely express their gratitude to Mr. Petersidefor his leadership, service and immense contributions to Cadbury Nigeria Plc while he was on the Board and wish him all the best in his future endeavours," a statement seen by AllNews disclosed.
Peterside had resigned as a Non-Executive Director on Flour Mills Nigeria Plc's board of directors in April, a position he had been serving on the board since 2011. He was said to have resigned to focus on his not-for-profit organization, ANAP Foundation COVID-19. His resignation took effect on March 31, 2020.
“Having set up the ANAP Foundation COVID-19 Think Tank, Mr. Peterside wishes to personally lead the work of the foundation which would make it difficult for him to adequately represent the interests of the minority shareholders on the board of Flour Mills Nigeria, Plc.”
In response to Peterside's resignation, the Board Chairman of Flour Mills, John Coumantaros said his resignation saddens him, “While we received the news with great sadness, the Board, Executives and entire staff of FMN Plc are tremendously proud of Mr. Peterside’s decision to stand up for the Nigerian people in the face of these extraordinary circumstances.”