Principal Financial Group, with $695 billion in assets, has named Deanna Strable as the company’s next president and CEO.
Strable, who is now the chief operating officer, also will take a position on the firm’s board of directors.
CEO and President Dan Houston will step down from his role but continue to serve as executive chair of the board.
Strable was only named COO in August 2024, having previously held the CFO role from 2017 to 2024. She also helped build the benefits and protection business, including integrating with Principal’s life insurance. In 2015, she became president of the group.
In a statement, Strable said she is excited to “build upon the strong foundation we’ve established under Dan’s leadership.”
“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,” she said.
“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.”
Principal Financial Group’s market cap grew from $13 billion to more than $20 billion during Houston’s time as CEO, following a redefinition of the strategy to focus on higher value and growth opportunities.
