OTHER NEWS - April 7, 1995
<i> Times Staff and Wire Reports</i>
Parachute Balloons for Ex-Grace CEO: J.P. Bolduc, forced out as chief executive of W.R. Grace & Co. last month after allegations of sexual harassment, will get a golden parachute roughly twice as big as first reported. The deal includes a previously reported $20-million severance package, including the buyback of $12 million worth of stock Bolduc already owned. In addition, the Boca Raton, Fla.-based chemical and health care company is giving Bolduc lifetime pension and health benefits potentially worth nearly $23 million more. The information is part of Grace’s 10-K annual report, filed with the Securities and Exchange Commission.
