Principal Financial Group has announced that Deanna Strable will become the company’s next president and chief executive officer, effective January 7, 2025. Strable, currently serving as President and Chief Operating Officer, will also join the Board of Directors in January and will also take up the Chief Executive Officer position. She succeeds Dan Houston, who has led the company since 2015 and will continue to serve as executive chair of the Board following the leadership transition.
Strable has been a key figure in Principal’s growth and success, having held several leadership roles within the company. Most notably, she served as Chief Financial Officer from 2017 to 2024 and played a pivotal role in expanding the company’s Benefits and Protection business. As the first leader of the Specialty Benefits division, Strable was instrumental in the integration of Principal’s life insurance business. Her experience in both finance and operations has been central to Principal’s ability to scale its operations and strengthen its market position.
Dan Houston, who has spent 40 years with Principal, will step down after successfully leading the company through significant challenges, including the global financial crisis and the pandemic. Under his leadership, Principal’s market capitalization grew from $13 billion to more than $20 billion. Houston expressed confidence in Strable’s ability to build upon the company’s achievements, stating, “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, in turn, expressed her excitement at taking on the CEO role, pledging to continue Principal’s mission of helping customers build strong financial futures. “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,” Strable said. As Principal enters its next chapter under her leadership, the company is expected to continue its expansion, offering innovative financial solutions to clients around the globe.
About Principal:
Principal Financial Group, a leading global financial services provider, has been dedicated to helping individuals and businesses improve their financial well-being for more than 145 years. With a workforce of nearly 19,000 employees across the globe, the company is committed to creating a positive impact on its customers, employees, and the communities in which it operates.