DES MOINES, Iowa--(BUSINESS WIRE)--May. 19, 2009--
The Principal Financial Group, Inc. (NYSE: PFG) today announced that
Larry D. Zimpleman, president and chief executive officer, has been
elected chairman of the board by the company’s board of directors,
effective May 19. Zimpleman succeeds J. Barry Griswell, who served as
chairman since 2002. Griswell continues to serve on the board.
“Larry is the right leader for these challenging times. His depth and
breadth of global financial services expertise make him especially well
suited for the job,” Griswell said. “In his first year at the helm of
The Principal®, Larry and his strong management team have
demonstrated their continued ability to achieve strong results even in
the face of challenging headwinds.”
Zimpleman commented, “The Principal owes a great debt of gratitude to
Barry. His leadership has been outstanding in both the good and
challenging times. He strengthened The Principal to become the
highly-regarded, world-class company and employer it is today."
Zimpleman joined the company in 1971 as a part-time actuarial student
and became a full-time actuary in 1973. From 1976 to 1997, he served in
various management and leadership positions at the officer level in the
pension department. He was named vice president in 1997, senior vice
president in 1999, executive vice president in 2001, president of
Retirement and Investor Services in 2003, president and chief operating
officer in 2006, and chief executive officer in 2008. A native of
Williamsburg, Iowa, Zimpleman received a bachelor’s degree in business
administration from Drake University in 1973, and an MBA degree from
Drake in 1977.
He became a Fellow of the Society of Actuaries in 1976, and is a past
member of the Board of Governors of the Society. Zimpleman is past chair
of Principal Funds, and is past chair of the Board of Trustees for the
Employee Benefit Research Institute (EBRI). He is a past president and
board chair of the American Academy of Actuaries. He is a member of the
Actuarial Club of Des Moines. He was a delegate at the 2002 and 2006
National Summit on Retirement Savings hosted by President Bush and the
Secretary of Labor.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)1
is a leader in offering businesses, individuals and institutional
clients a wide range of financial products and services, including
retirement and investment services, life and health insurance, and
banking through its diverse family of financial services companies. A
member of the Fortune 500, the Principal Financial Group has $236.6
billion in assets under management2 and serves some 18.8
million customers worldwide from offices in Asia, Australia, Europe,
Latin America and the United States. Principal Financial Group, Inc. is
traded on the New York Stock Exchange under the ticker symbol PFG. For
more information, visit www.principal.com.
1 "The Principal Financial Group" and “The Principal” are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of March 31, 2009
Source: The Principal Financial Group, Inc.
The Principal Financial Group, Inc.