Nigeria, June 30 -- Businessman Atedo Peterside has resigned as the chairman of Cadbury Nigeria Plc.

Mr Peterside's resignation is contained in a letter addressed to the directors of the company and dated June 29.

The banker, founder of Stanbic IBTC bank, was named non-executive chairman of Cadbury in 2010.

"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," Mr Peterside said in his resignation letter.

He said his resignation was so he could move o...