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In his eight months as top man, Grand has shucked off unprofitable plants, folded the international division into other operations, promoted 50 Olin managers and surrounded himself with youthful executive vice presidents (average age: 49) whose salaries run close to his own $125,000 a year. He demands that each of Olin's divisions keep its profits within the top third of its competitive field, gives them virtual autonomy to do so. "Now we have a clear recognition of what we're doing and where we're going," says Grand. "We have taken on the flexibility of small business combined with the scale and economy of big business."
Two-Mile Walk. Grand runs his company so smoothly that he still practices a personal preachment: "It's stupid to spend too many hours a day on company business. You aren't effective if you don't have a good time." He walks the two miles from his Park Avenue apartment to a normal workday in mid-Manhattan, weekends in Greenwich, Conn., with his wife and five children, skis in Vermont, summers on Fishers Island in Long Island Sound. There is nothing relaxed, however, about Grand's plans for Olin. He is struggling to fatten the unimpressive return on investment (4.9% despite a 22% profit increase so far this year), intends to completely revitalize the lagging Squibb divisions, bring out more consumer products. He expects Olin to hit $1 billion in sales by 1967. At the company's present rate, he will get what he wants.