The outgoing Chairman of Stanbic IBTC Holdings Plc, Atedo Peterside, has expressed confidence in the ability of the board, management and staff to maintain the organisation on a steady path of growth as he takes a final bow from the institution that has become synonymous with his name.
According to a statement, Peterside stated this at a send-off dinner in his honour in Lagos recently. The event was attended by the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah; Emir of Kano, Alhaji Muhammadu Sanusi II; President, Dangote Group, Aliko Dangote; Chief Executive, Standard Bank Group, Sim Tshabalala; Deputy Chairman, Standard Bank Group, Jacko Maree; and Chief Executive, Africa Regions, Standard Bank Group, Sola David-Borha, with the Chief Executive of Stanbic IBTC Holdings Plc, Yinka Sanni, playing host.
Peterside stated: â€œI am resigning from the Board of Stanbic IBTC Holdings to focus on my role as member of the board of the parent group. I am very confident that those behind are more than capable to steer the ship in the right direction. I am comfortable in the part that I have played and I believe that the organisation will continue to make progress.â€
In a letter to the Board of Directors announcing his resignation effective March 31, 2017, Peterside had noted that the organisation had put in place a succession plan,which ensures that the business is well-placed to continue the pursuit of its goals and growth strategies without hitches.
â€œWe have a strong tradition of careful succession planning at both Stanbic IBTC and the Standard Bank Group,â€ he stated, adding, â€œYinka Sanni, who has been the Chief Executive of Stanbic IBTC Bank, recently took over as Chief Executive of Stanbic IBTC holdings as a good show of our succession planning.â€
Peterside was eulogised for his integrity, professionalism and strong leadership skills that helped in transforming Stanbic IBTC from just an investment bank to a leading end-to-end financial solutions company with tentacles in stockbroking, pension and asset management, trusteeship, and insurance, among others.
On his part, Dangote said: â€œI think that Atedo has done well for himself. I have served on many committees with him and have known him to be fearless, especially when he is convinced that he is standing by the truth. He is a man of integrity. I am sure that his successor on the board will do well because of the solid foundations that he has laidâ€.
The Emir of Kano traced his relationship with Petersideback to their studentship at Kings College, a shared experience that groomed them for leadership.