Northwestern Mutual board elects Schlifske CEO [Milwaukee Journal Sentinel]

May 26--John E. Schlifske was elected Wednesday to succeed Edward J. Zore as chairman and chief executive officer of Northwestern Mutual Life Insurance Co.

The move by the board of trustees has been anticipated since last year when Schlifske was named president of the Milwaukee-based insurer. Schlifske becomes CEO on July 1 and chairman Aug. 1, where Zore retires.

"It's an honor to follow in the footsteps of so many dedicated leaders who have built this company," said Schlifske, 51. "Ed Zore will be leaving Northwestern Mutual in an exceptionally strong position, after significantly growing the business and guiding our organization through the worst economic meltdown of our lives. That speaks to his leadership and the strength and stability of Northwestern Mutual."

Zore, who has been CEO since 2001, will continue to serve on the board after his retirement. Under company rules, the chief executive must retire at age 65. Zore turns 65 in July.

Schlifske, who joined Northwestern Mutual in 1987 as an investment specialist and rose to positions of increasing authority, gained CEO experience while president and chief executive of Russell Investments, a subsidiary of Northwestern Mutual, from June of 2008 to February of 2009. While running Russell, he continued to serve as executive vice president of Northwestern Mutual and was a member of the company's management committee.

Schlifske was the firm's executive vice president for investment products and services from 2004 to 2008. In that role, he was responsible for all aspects of the company's investment products and services business, including annuities, mutual funds, advisory products and the Northwestern Mutual Wealth Management Co.

"John Schlifske is a great leader and has the vision to make Northwestern Mutual even stronger," Zore said. "He brings to the role a keen understanding of our business and the passion to do what's right for our policy owners and clients."

A native of Shorewood, Schlifske is a 1977 graduate of Shorewood High School. He received a bachelor's degree in economics in 1981 from Carleton College, Northfield, Minn., and a master's degree in finance and accounting in 1983 from the Kellogg Graduate School of Management at Northwestern University.

He is a director of Russell Investments and also serves on the board of the Milwaukee Public Museum and Children's Hospital of Wisconsin. As chairman of the museum board from 2005 to 2007, he helped the museum recover from serious financial problems.

Schlifske is married and has six children.

The Northwestern Mutual board also named Gary A. "Skip" Poliner, 56, president and chief risk officer, effective Aug. 1. Poliner is currently executive vice president, chief risk officer and a member of the company's board of trustees. He will report to Schlifske.

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