Principal Financial Group has unveiled a major leadership shift, appointing Deanna Strable as its new president and chief operating officer. Strable, who has been a dedicated member of the company for nearly 35 years, currently holds the position of executive vice president and chief financial officer. In her new role, she will oversee Principal’s three core business areas: retirement and income solutions, benefits and protection, and asset management.
Dan Houston will maintain his roles as chief executive officer and board chair, continuing to guide the company alongside Strable.
Houston commended Strable’s contributions, noting, “Deanna has played a crucial role in shaping our strategy, driving financial performance, and optimizing operations. Her leadership has been vital in enabling Principal to deliver consistent value to our customers, shareholders, and employees. Her appointment as president and COO is a testament to her deep expertise and proven leadership within our organization. I am eager to continue our strong partnership.”
Strable’s journey with Principal began in 1990 when she joined as an actuarial assistant. Over the years, she has held numerous significant positions, including president of Principal’s workplace benefits and insurance division, before assuming the CFO role in 2017.
Reflecting on her new position, Strable expressed her optimism about the company’s future: “After nearly 35 years at Principal, I am more confident than ever in our ability to deliver value and achieve sustainable growth. I am excited about 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.
