Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, February 1, 1994 TAG: 9402010049
SECTION: BUSINESS PAGE: B8 EDITION: STATE
SOURCE: MAG POFF STAFF WRITER
DATELINE: LENGTH: Short
Caudill said Monday that his employment contract, drafted when First Union bought Dominion Bankshares Corp. last March, will run out this month.
He had been president of Dominion Bankshares Corp. until it merged with First Union.
Caudill said he is 58 and in good health. He would have been in banking 34 years in July.
"I've reached a point where I think it's time to enjoy retirement and supplement that with other things," Caudill said. He said he will no longer be associated with banking in any way.
The decision to retire is like that to marry or divorce, he said. "Something just clicks in your mind one day."
Caudill said he wants his retirement "to be very positive. I want to avoid speculation."
He said his relationship with First Union is ending "on a high note."
David Carroll, also a vice chairman of the bank, praised Caudill as instrumental in helping to make the merger transition smooth.
A native of Narrows, Caudill joined Dominion in 1960 after graduating from Virginia Tech.
He has been active in efforts to build a trade and convention center in downtown Roanoke.
Memo: shorter version ran in the Metro edition.