Stanbic IBTC to elect new Chairman as Peterside resigns
Board of Directors for Stanbic IBTC Plc will appoint a new Chairman at its meeting scheduled to hold in April 2017, following the resignation of its Chairman and Founder Atedo Peterside.
Mr. Atedo N.A. Peterside CON, who 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, resigns from his position as the Chairman of company, effective March 31st 2017.
According to the company Mr. Peterside who became Chairman of Stanbic IBTC Holdings PLC following the Group’s restructuring into a holding company in November 2012, has contributed immensely to the success of the Banking Group.
“The Board and Management of Stanbic IBTC Group acknowledge and sincerely express their profound gratitude to Mr. Peterside for his leadership, service and immense contributions to the Stanbic IBTC Group for over 28 years. We also wish him all the best in all his future endeavours.” A statement from the company filed with the Nigerian Stock Exchange read.
Stanbic noted that Mr. Peterside will however remain a Non-Executive Director on the Boards of both Standard Bank Group Limited and The Standard Bank of South Africa Limited.
