Northwestern Mutual Board Elects Facundo Bacardi as New Trustee
The board of trustees of Northwestern Mutual has elected Facundo L. Bacardi to serve on the company's board. Bacardi is Chairman of the Board of Bacardi Limited, the third-largest global distilled spirits company in the world. He has served as Chairman of this 146-year-old family business, based in Hamilton, Bermuda, since 2005.
"Our board is fortunate to benefit from the skills of Facundo Bacardi," said Edward J. Zore, president and chief executive officer of Northwestern Mutual. "His experience running a complex business has given him excellent insight into effectively branding and marketing world-class products. He is a key strategist and we look forward to having him serve on our board."
Bacardi previously served on Northwestern Mutual's Policyowners' Examining Committee, an independent group appointed each year to take an impartial and unrestricted look at the company's operations, management and strategic planning.
Prior to his appointment as Chairman of Bacardi Limited, Bacardi served as Deputy Chairman of the company for three years. He has also been a member of the Nominating and Governance Committee, chairman of the Corporate Strategy and Finance Committee, and chairman of the Search Committee.
In addition to his seat on Northwestern Mutual's Board of Trustees, Bacardi is also President of Bacardi OSR, an investment holding company based in Coconut Grove, Florida, that invests in a broad diversified class of public and private assets. He is also a trustee of the Facundo and Amalia Bacardi Foundation, whose mission is to support programs for the disadvantaged in education, medicine, food and housing, and the environment.
Mr. Bacardi received a B.S.B.A. in Finance from American University and a J.D. degree from Emory University Law School, and is a member of the Georgia Bar.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company, Milwaukee, WI (Northwestern Mutual) has been helping policyowners and clients achieve financial security for more than 150 years. The company is an industry leader, with over $1 trillion of life insurance protection in force, maintains the highest available ratings for insurance financial strength from all four major rating agencies: Standard & Poor's, Fitch Ratings, A. M. Best and Moody's.
For 25 years, a FORTUNE magazine survey has named Northwestern Mutual "America's Most Admired" company in the life/health insurance industry. Further information on Northwestern Mutual, its subsidiaries and affiliates can be found at: http://www.nmfn.com/. More information on the company's Policyowner Examining Committee is also available on the company's web site at http://www.nmfn.com/tn/aboutus--nm_policyowners.
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SOURCE: Northwestern Mutual Life Insurance Company
CONTACT: Jean Towell of Northwestern Mutual Life Insurance Company,
7/23/2008 1:00:00 PM