Principal Financial Group has announced a significant leadership transition, naming Deanna Strable (pictured) as president and chief operating officer.
Strable, who has been with the company for nearly 35 years and currently serves as executive vice president and chief financial officer, will oversee Principal’s three business areas: retirement and income solutions, benefits and protection, and asset management.
Dan Houston, meanwhile, will continue in his roles as chief executive and board chair.
The CEO praised Strable’s contributions to the financial firm, stating: “Deanna has been instrumental in driving strategy, financial results, and operations to enable Principal to grow and continue to create value for our customers, shareholders, and employees.
“Her appointment as president and COO reflects her extensive experience and proven leadership within the organization, and I am excited to continue our strong partnership.”
Strable’s long history with Principal began in 1990 when she joined as an actuarial assistant. She has held various key positions within the company, including serving as president of Principal’s workplace benefits and insurance division before stepping into the CFO role in 2017.
Reflecting on her new responsibilities, Strable expressed confidence in the company’s future, saying: “In my nearly 35 years at Principal, I’m more confident than ever in our ability to deliver value and grow sustainably to continue to serve our customers and meet the expectations of our shareholders.
“I look forward to the opportunity to further contribute to our ongoing success in this new role.”
As Strable transitions to her new remit, senior vice president and controller Joel Pitz will act as interim finance chief.
Pitz, who has been with Principal for almost three decades, brings substantial experience from various senior executive finance roles, including serving as CFO for the company’s international pension and long-term savings business.
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