Principal Financial names Deanna Strable CEO effective Jan 7, 2025; Dan Houston becomes Executive Chairman

PRINCIPAL FINANCIAL GROUP INC

Deanna Strable, current President and COO, appointed CEO effective January 7, 2025; Houston becomes Executive Chairman.
Strable's CEO compensation: $1M base salary, 300% target incentive, $8.5M long-term equity grant.
Houston's Executive Chairman compensation: $1.1M base salary, 375% target incentive, $4.24M RSU grant.
Strable joined Principal in 1990; served as CFO from 2017 to 2024 and President U.S. Insurance Solutions before COO role.
Houston retires after 40 years with the company, 10 years as CEO; market cap grew from $13B to over $20B under his tenure.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Dwight Soethout

Vice President-Chief Actuary

PFG · PRINCIPAL FINANCIAL GROUP INC

Filed: November 14, 2024, 6:59 PM ET

Dwight Soethout, Vice President-Chief Actuary, is the spouse of Ms. Strable and has been an employee of the Company since 1993. Mr. Soethout has indicated his intention to retire from the Company.

Role change

Daniel J. Houston

Executive Chairman

PFG · PRINCIPAL FINANCIAL GROUP INC

Effective: 2025-01-07
Successor: Deanna Strable
Filed: November 14, 2024, 6:59 PM ET

Mr. Houston will continue to serve as Executive Chairman following his retirement from the role of Chief Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.9

Dwight Soethout departed as Vice President-Chief Actuary at PRINCIPAL FINANCIAL GROUP INC.

Action: intended to retire
Role: Vice President-Chief Actuary

Exact text from the filing

Dwight Soethout, Vice President-Chief Actuary, is the spouse of Ms. Strable and has been an employee of the Company since 1993. Mr. Soethout has indicated his intention to retire from the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Daniel J. Houston changed role as Executive Chairman at PRINCIPAL FINANCIAL GROUP INC.

Action: retired from CEO and assumed Executive Chairman role
Role: Executive Chairman

Exact text from the filing

Mr. Houston will continue to serve as Executive Chairman following his retirement from the role of Chief Executive Officer.

View on SEC.gov

PRINCIPAL FINANCIAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001104659-24-119004

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