Eighteen months after fending off a takeover attempt, Oliver W. Waddell on Tuesday announced his retirement as chairman of Star Banc Corp., Cincinnati, solidifying power in the hands of successor Jerry A. Grundhofer.

Mr. Grundhofer, a former vice chairman of BankAmerica Corp., was named president and chief executive of the &7.6 billion-asset banking company this summer. He will assume the additional duties of chairman upon Mr. Waddell's departure at yearend.

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