Caradon director in line for pay-off

Caradon director in line for pay-off

Daniel Cohen, who is to step down as a director of the Caradon building products group, could be in line for a pay-off of up to pounds 750,000. The Alpine double glazing to Twyfords bathroom group confirmed his impending departure yesterday, alongside a new management structure that will see the seven business divisions reporting directly to the chief executive, Peter Jansen, in future. Caradon has also appointed headhunters to seek a candidate to occupy a new post of chief operating officer. Mr Cohen's basic salary was just over pounds 250,000 last year and he is thought to be on a three-year contract like other directors. However, it is likely that his compensation for loss of office will be lower than his contract would imply.