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The key to the tobacco industrys performance is that declining volume has been more than offset by pricing and product mix. The focus of the tobacco firms has shifted from pursuing volume growth in emerging markets back to developed markets with more attractive pricing dynamics

Globally, the sectors margin is even higher: at 50%

That dedication is infectious. Tobacco also serves as chairman of the Joseph Maffeo Foundations Casino Night and is active in the alumni association at Monsignor Farrell High School

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He subsequently was general counsel (192125), vice-president and general counsel (192531), president (193134), and vice-chairman of the board (193435)