Principal Financial Group has named Deanna Strable, its former chief operating officer, as the company’s new president and CEO, effective on January 7, 2025.
Strable succeeds Dan Houston, who will continue to serve as executive chair of Principal’s board of directors. Strable will join the board in January 2025.
Prior to her role as Principal’s COO, Strable worked as the company’s CFO from 2017 to 2024, and before that, as president of its workplace benefits and insurance business. She is credited for helping build the company’s Benefit and Protection business.
“I am honored to be appointed as the company’s next president and CEO and build upon the strong foundation we’ve established under Dan’s leadership,” said Strable. “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. 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.”
Strable succeeds Houston in the role. Houston has served as president and CEO for Principal since 2015 and has held several leadership positions during his 40 years with the company. During Houston’s tenure as president and CEO, Principal’s market capitalization grew from $13 billion to over $20 billion.
“I’m incredibly proud of the company we have built, the culture of care and expertise developed, and our unwavering commitment to clients. It has been an honor to serve as president and CEO and work with so many talented employees around the world,” said Houston. “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.”
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
