Dan Houston to remain executive chair of the Board

DES MOINES, Iowa, November 12, 2024--(BUSINESS WIRE)--Principal Financial Group^? (Nasdaq: PFG) today announced the Board of Directors has appointed president and chief operating officer Deanna Strable as the company’s next president and chief executive officer, effective January 7, 2025. Strable succeeds Dan Houston, who will continue to serve as executive chair of the Board.

"I’m incredibly proud of the company we have built, the culture of care and expertise developed, and our unwavering commitment to clients. It has been an honor to serve as president and CEO and work with so many talented employees around the world," said Houston. "Deanna has been a trusted partner and a co-architect in the company’s growth strategy. I have the utmost confidence in her leadership and business acumen and look forward to working with her to ensure a smooth transition."

Strable will also join the Principal Board of Directors in January 2025. Before being appointed president and COO in August 2024, she served as the company’s CFO from 2017 to 2024, and before that, as president of its workplace benefits and insurance business.

"Deanna brings strategic vision, strong leadership experience, and a deep understanding of the company's interconnected business units and great culture," said Scott M. Mills, lead independent director of the Principal Board of Directors. "She has cultivated a breadth and depth of experience during her 35 years with Principal and held key leadership roles in shaping its strategy and portfolio of businesses. We look forward to her continued leadership driving Principal into the next phase of growth."

Strable has been instrumental in leading business strategy and operations as Principal^? has gone through significant growth while continually strengthening its market position. She helped build the company’s Benefits and Protection business – as the first leader of its Specialty Benefits division and leading the integration with its life insurance business – before stepping into the role of business unit president in 2015.

"I am honored to be appointed as the company’s next president and CEO and build upon the strong foundation we’ve established under Dan’s leadership," said Strable. "Throughout my career, I’ve seen Principal strengthen its position as a leading global financial services company dedicated to helping customers build strong financial futures. Alongside our committed and passionate colleagues around the world, I look forward to continuing our culture of innovation, inclusion, and service, with a focus on meeting customer needs to drive growth and create shareholder value."