Peterside quits as chairman of Cadbury

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Atedo Peterside, renowned investment banker, has resigned as Cadbury Nigeria Plc, Chairman of the Board of Directors.

The Secretary of the Company , Mr. Fola Akande, disclosed this in a notice to the Nigeria Stock Exchange ( NSE) in Lagos.

The resignation of Peterside from Cadbury Nigeria Plc is effective on Tuesday.



According to Akande, the founder of Stanbic IBTC Bank Plc joined Cadbury as a member of the Board in August 2009 and became the chairman in April 2010.

She said Cadbury’s Board of Directors had acknowledged the resignation and thanked Peterside for his services, leadership, and contributions to the company.



“The company wished Peterside success in his future endeavours,” the secretary added.

Cadbury posted a revenue of N39.3 billion for the financial year ended December 31, 2019 against the N35.9 billion recorded in the corresponding period of 2018.

The company’s Profit After Tax (PAT) at the end of 2019 stood at N1.07 billion compared with N823 million recorded in 2018, indicating a growth of 30 percent.

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