Financial expert and leading industrialist, Atedo Peterside, has resigned his appointment as the Chairman of Cadbury Nigeria Plc after serving for 10 years.

Peterside, a national honours awardee, had broached the idea of resigning from the position a few weeks ago and made real his intention yesterday.

In his letter of resignation sourced yesterday by Daily Trust, the industrialist expressed gratitude to all that made his tenure a huge success and expressed confidence in the new management to take the company to higher levels in the years ahead.

He stated: "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 skill sets.

"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", Peterside added.

Copyright Daily Trust. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English