Atedo Peterside has resigned from his position as a Non-Executive Director of Flour Mills Nigeria Plc’s.
Peterside, who had been serving on the board since 2011, resigned in order to have enough time to play a more deliberate role in the fight against COVID-19.
Information about Pererside’s retirement is contained in a statement that was signed by Flour Mills’ Company Secretary, Umolu Joseph, and sent to the Nigerian Stock Exchange.
According to the statement, Atedo Peterside is going to serve as the head of the Atedo N. A. Peterside (ANAP) Foundation COVID-19, which is a not-for-profit organization. Part of the statement says:
“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.”
Mr Pererside’s resignation took effect on March 31, 2020.
While commenting on Atedo Pererside’s departure from Flour Mills, the Board Chairman, Mr. John Coumantaros, thanked him for his selfless service to the company. He said:
“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.”
What you should know: ANAP Foundation is a non-profit organisation that was initially set up to promote Good Governance in Nigeria.
Peterside recently set up the foundation to serve as a Think Tank, following the outbreak of the Coronavirus pandemic.
He is also the founder of Stanbic IBTC Holdings Plc, Chairman of ANAP Business Jets Ltd, and President of ANAP Foundation.
Recently, Atedo Peterside had also also resigned from the board of Nigerian Breweries Plc as Non-Executive Director due to the same reason.
As he stated in both resignations, he will now focus on fulfilling the objectives of the Think Tank, as the COVID-19 infection cases in Nigeria continue to rise.