Edward J. Zore
Encyclopedia
Edward J. Zore is the former president and CEO of Northwestern Mutual and current chairman. He became Northwestern Mutual's 16th president on March 31, 2000 and chief executive officer on June 1, 2001. Zore joined Northwestern Mutual investment department in 1969. He served as the company's
Executive Vice President, Chief Financial Officer, Chief Investment Officer and trustee of Northwestern Mutual. He was inducted as a honoree of the SMEI Academy of Achievement in 2003, and was named among the 100 most influential people in business ethics in 2008. Zore retired from Northwestern Mutual CEO on June 30, 2010. He was succeeded by John Schlifske.
He is a former chairman of the board of the American Council of Life Insurers, and an honorary board member of the Million Dollar Round Table Foundation. He is also an advisory board member of the Millstein Center for Corporate Governance and Performance at the Yale School of Management
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Zore obtained his B.A. and M.A. in Economics
from the University of Wisconsin–Milwaukee.
"His answer to the conundrums faced by Northwestern Mutual was to tell lies and manufacture reality," Flynn wrote.
The judge determined Northwestern Mutual Life Insurance Co. breached its contracts with thousands of annuity holders when it unilaterally changed how dividends were paid on some annuities sold before 1985, a decision that could expose the company to hundreds of millions of dollars in damages.
In a 97-page decision, Flynn found the company also breached its fiduciary duty and duties of good faith, fair dealing and loyalty during the switch.
"Intentional and repeated concealment of wrongdoing over a period of a quarter century took place," Flynn wrote.
Executive Vice President, Chief Financial Officer, Chief Investment Officer and trustee of Northwestern Mutual. He was inducted as a honoree of the SMEI Academy of Achievement in 2003, and was named among the 100 most influential people in business ethics in 2008. Zore retired from Northwestern Mutual CEO on June 30, 2010. He was succeeded by John Schlifske.
He is a former chairman of the board of the American Council of Life Insurers, and an honorary board member of the Million Dollar Round Table Foundation. He is also an advisory board member of the Millstein Center for Corporate Governance and Performance at the Yale School of Management
Yale School of Management
The Yale School of Management is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers Master of Business Administration and Ph.D. degree programs. As of January 2011, 454 students were enrolled in its MBA...
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Zore obtained his B.A. and M.A. in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of Wisconsin–Milwaukee.
Pre-1985 NML Annuity Class Action
In a March 6, 2011 court decision against Northwestern Mutual, Reserve Judge Dennis Flynn, of Racine, found testimony of retired Northwestern Mutual CEO Ed Zore "not credible.""His answer to the conundrums faced by Northwestern Mutual was to tell lies and manufacture reality," Flynn wrote.
The judge determined Northwestern Mutual Life Insurance Co. breached its contracts with thousands of annuity holders when it unilaterally changed how dividends were paid on some annuities sold before 1985, a decision that could expose the company to hundreds of millions of dollars in damages.
In a 97-page decision, Flynn found the company also breached its fiduciary duty and duties of good faith, fair dealing and loyalty during the switch.
"Intentional and repeated concealment of wrongdoing over a period of a quarter century took place," Flynn wrote.