NICHOL RESIGNS AS CEO OF DESTINATION

TORONTO -- David Nichol has resigned as chairman, president and chief executive officer of Destination Products International to launch a similar business under his own name.

ped launch the President's Choice brand before leaving at the end of 1993. He could not be reached for comment.

DPI, the private-label food division of Cott Corp. here, sells products to several U.S. retailers, including Safeway. Cott, Canada's largest private-label soft drink producer, is treating DPI as a discontinued operation. Cott plans to restructure the unit, but may sell it or shut it down.

In another development, due to the recent illness of Gerald Pencer, Cott's chairman and chief executive officer, Mark Benadiba and Humberto Aquino are sharing the chief operating officer role, a new position.