The management of Stanbic IBTC Holdings Plc has notified the Nigerian Stock Exchange that Atedo N.A. Peterside CON (Chairman of the company’s board), will be resigning from the Board of (“the Company”) with effect from 31 March 2017.
Peterside whom the company says will remain a Non-Executive Director on the Boards of both Standard Bank Group Limited and The Standard Bank of South Africa Limited founded IBTC (then known as Investment Banking & Trust Company Limited) in February 1989 and was its pioneer Chief Executive Officer (CEO) until 2007, when the merger with Stanbic Bank Nigeria Limited was consummated to form Stanbic IBTC Bank Plc. He resigned as CEO and was appointed Chairman of the enlarged Stanbic IBTC Bank Plc on the same day in 2007. He later went on to become Chairman of Stanbic IBTC Holdings Plc following the Group’s restructuring into a holding company in November 2012.”
The Board and Management of Stanbic IBTC Group acknowledged their profound gratitude to Peterside for his leadership, service and immense contributions to the Stanbic IBTC Group for over 28 years in their letter to the Exchange. “We also wish him all the best in all his future endeavours,” the statement said.
The Company’s Board of Directors will appoint a new Chairman at its meeting scheduled to hold in April 2017 (subject to any required regulatory approval), following which an announcement would be made to The Nigerian Stock Exchange.
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