The cdirectmgr utility will no longer be included with product distributions beginning with the Caché 2016.2 release . This was an older VB application (predating the Caché cube) which allowed users to define server connections for Visual M/Caché Direct applications. As VB 6 is no longer supported by Microsoft, we will no longer ship this component. The same functionality is already available from the cube utility.
It is also posted in Compatibility blog.