Word: riggio
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Died. Vincent Riggio, 82, president from 1946 to 1950 and board chairman the following year of The American Tobacco Co.; of a heart attack; in Mount Kisco, N.Y. Born in Sicily, Riggio was a $3-a-week Manhattan pantsmaker at 14, got a job selling Pall Malls in 1905. Possessed of a fluent tongue, an active imagination and a driving manner, Riggio was chosen to introduce Lucky Strikes in 1917, replaced flamboyant George Washington Hill as American Tobacco's president...
Last week the changes came. American's directors filled the board chairmanship which had been unoccupied for 20 years, by moving 72-year-old President Vincent Riggio into it. Into his place they boosted Vice President Paul M. Hahn, 55, a protege of American's late, fabled George Washington Hill, whose brassy salesmanship and irritating radio commercials had put Luckies on top in the first place...
...rule. Two years ago, when the American Tobacco Co. parted company with the agency handling its $12 million account, Duffy flew back from a Florida vacation before the news was even official, was soon hammering his facts at American Tobacco's shrewd, hard-to-sell President Vincent Riggio. When Duffy was done, Riggio said: "I had a list of ten questions to ask you. You have already answered them all." Duffy got the account, loyally chainsmokes Luckies...
There were such veterans on the list as American Tobacco Co. President Vincent Riggio ($484,202), Bethlehem Steel's Eugene Grace ($293,279), and William Randolph Hearst ($300,000). But the others were not so familiar. They were: E. H. Little, president of Colgate-Palmolive-Peet Co. ($350,000); A. A. Somerville, vice president of Manhattan's R. T. Vanderbilt Co., Inc., which distributes chemicals ($319,398); Seton Porter, president of National Distillers Products Corp. ($310,000); Theodore Seltzer, president of Bengue Inc., which makes Ben-Gay ointment ($295,613); and G. A. Bryant, president of a Cleveland...
Smoke, No Fire. Those who expected a proxy fight at American Tobacco Co.'s annual meeting were disappointed. George Washington Hill Jr., who resigned in a huff a month ago (TIME, March 29), did not show up. President Vincent Riggio announced a first-quarter sales increase over the same period last year in both unit sales (up 8.10%) and dollar sales (up 8.06%). Stockholders in turn expressed confidence in the management by re-electing 16 directors and voting down a ceiling on executive compensation (Riggio's pay last year...