Former President of Frito-Lay Corp
MILWAUKEE, Aug. 29, 2019 /PRNewswire/ — Northwestern Mutual, a leading financial security company, announced today that Randolph W. Melville has been appointed to serve on the company’s board. Melville was the senior vice president and general manager for the Western Division of Frito-Lay North America, the $14 billion convenient foods business unit of PepsiCo, until his retirement in 2017. In that position he was accountable for all aspects of the company’s western division performance.
“Randy has a deep understanding of the challenges and opportunities businesses face in sales distribution, finance, human resources and strategic planning, as well as how businesses can better connect with their customers,” said Northwestern Mutual Chairman, President and Chief Executive Officer John E. Schlifske. “We value his insights as we develop and grow our team of 9,000+ financial professionals across the U.S.”
Melville has been widely recognized among industry organizations and trade publications. In 2009, Black Enterprise magazine named him one of the “100 Most Powerful Executives in Corporate America.” The Stockdale Center for Ethical Leadership at the U.S. Naval Academy and Harvard Business Review named him a recipient of their inaugural Leadership Excellence Award. Prior to his 20-plus year career at Frito-Lay, Melville served as a senior vice president at Maytag Corporation and held various sales and marketing leadership positions at Proctor & Gamble Distribution Company. Melville currently serves as the lead independent director on the board of Saia, Inc., a publicly-traded trucking and logistics company.
Melville graduated from Princeton University with a bachelor’s degree in sociology. His appointment takes effect September 1.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for more than 160 years. Through a distinctive, personalized planning approach, Northwestern Mutual combines the expertise of its financial advisors with a digital experience to help its clients navigate their financial lives every day. With $272.2 billion in assets, $28.5 billion in revenues, and $1.8 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.5 million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. The company manages $128 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses. Northwestern Mutual ranks 111 on the 2019 FORTUNE 500 and is recognized by FORTUNE® as one of the “World’s Most Admired” life insurance companies in 2019.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).