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The Principal Financial Group Announces Divisional Succession

11/17/2009

John Aschenbrenner to Retire as Division President

DES MOINES, Iowa--(BUSINESS WIRE)--Nov. 17, 2009-- As part of a planned leadership succession, the Principal Financial Group® announced that John Aschenbrenner, president – insurance and financial services, will retire at the end of 2009 after more than 37 years with the company.

“John has made many valuable contributions to The Principal throughout his career. In particular, his leadership has strengthened our position as an employee benefits leader serving small- to mid-size businesses,” says Larry Zimpleman, chairman, president and chief executive officer. “We are thankful for John’s contributions to The Principal and have great confidence in the proven talent and experience of our leadership team going forward.”

Aschenbrenner joined The Principal® in 1972 and has served in a variety of executive level positions in the organization’s insurance and accumulation businesses. Named to his current position in 2003, Aschenbrenner has been responsible for overall management of the company’s life, health and specialty benefits businesses as well as the distribution channels supporting those businesses.

Effective upon Aschenbrenner’s retirement, Dan Houston, president – retirement and investor services, will assume leadership of the life, health and specialty benefits businesses in addition to his current role leading the U.S. Asset Accumulation segment. His new title will be president – retirement, insurance and financial services.

About the Principal Financial Group

The rincipal 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 $280.4 billion in assets under management2 and serves some 18.6 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 September 30, 2009

 

Source: Principal Financial Group

The Principal Financial Group
Media Contact:
Susan Houser, 515-248-2268
houser.susan@principal.com
or
Investor Contact:
Tom Graf, 515-235-9500
graf.tom@principal.com

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