Deanna Strable, executive vice president and chief financial officer of Principal Financial Group, has been promoted to a new position as president and chief operating officer, Principal announced in a news release Aug. 21.
Dan Houston will continue to serve as CEO and chairman of the board but will relinquish his role as president.
In her new role, Strable will have direct responsibility for the three businesses of Principal, namely retirement and income solutions, benefits and protection, and asset management.
The 35-year company veteran has served as CFO since 2017, after previously serving as president of the company’s workplace benefits and insurance business. She joined Principal in 1990 as an actuarial assistant.
“Deana 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,” Houston said in the news release.
As part of the transition, Joel Pitz, senior vice president and controller, will serve as interim chief financial officer. Pitz has been with Principal for nearly three decades, holding senior executive finance roles across the company.
