The Principal Financial Group has announced that Larry D. Zimpleman, chairman at The Principal Financial Group, will retire on January 4, 2016. He will continue to serve on the board of directors as nonexecutive chairman.
Zimpleman joined the company in 1971 as an actuarial intern. From 1976 to 2006 he served in various management and leadership positions at the officer level, mostly in the U.S. retirement business.
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He was named president and chief operating officer of The Principal in 2006; president and chief executive officer in 2008; and president, chairman and CEO until August 2015.
He was succeeded as president and CEO by Dan Houston.
"In his 44 years at The Principal, Larry drove a number of significant advancements for the organization," Houston said in a statement. "He was instrumental in developing our international pension and long-term savings strategy, and in exporting our expertise to high potential markets around the world."
The Principal Financial Group has $516.2 billion in assets under managementand serves some 20.6 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States.
The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies.
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