Atedo Peterside: quits Cadbury board as chairman

Banker and businessman, Mr Atedo Peterside has resigned as Chairman of the Board of Directors of Cadbury Nigeria Plc.

The resignation took effect from today.

The Company Secretary, Mr Fola Akande, made this known in a notification letter sent to the NSE in Lagos.

Akande said Peterside joined the company as a member of the board in August 2009 and rose to become the chairman in April 2010.

The company secretary said that the Board of Directors had acknowledged the resignation and thanked Peterside for his services, leadership and contributions.

Peterside in April also resigned as a non-executive director of Nigerian Breweries.

The company wished Peterside success in his future endeavours.

The News Agency of Nigeria (NAN) reports that the company posted a revenue of N39.3 billion for the financial year ended Dec. 31, 2019 against the N35.9 billion achieved in the corresponding period of 2018, an increase of eight per cent.

Its profit after tax stood at N1.07 billion compared with N823 million achieved in 2018, indicating a growth of 30 per cent.