OTHER NEWS - April 11, 1995
<i> Times Staff and Wire Reports</i>
Grace’s Retirement Tab: W.R. Grace & Co. said it has paid outgoing Chairman Peter Grace a total of $24 million since 1991 in retirement benefits and other perquisites. The Boca Raton, Fla.-based company released the figures in its annual proxy statement after a bruising battle between the chairman and former Chief Executive J.P. Bolduc over disclosure. Bolduc resigned last month, and the Securities and Exchange Commission began an informal inquiry shortly afterward into whether the company adequately disclosed payments to Peter Grace, 81, and his son Peter Grace III. Bolduc, 55, received a retirement package worth up to $43 million when he resigned March 2 amid allegations of sexual harassment.
