Principal Promotes Strable to Finance Chief, Replacing Lillis

  • CEO Houston cites Strable’s ‘strong financial expertise’
  • Strable to shift from role as president of insurance

Principal Financial Group Inc., the seller of life insurance and retirement products with more than $500 billion of assets under management, promoted Deanna Strable-Soethout to chief financial officer, replacing Terry Lillis, who is retiring.

Strable, who was named president of U.S. insurance solutions in 2015, will take the CFO post early next year and was also named executive vice president, the Des Moines, Iowa-based company said Tuesday in a statement.

Principal’s Daniel Houston has been building the company’s asset manager, pursuing international growth and reshaping leadership after taking over as chief executive officer last year. In February, when the company said Lillis would step down after more than 30 years with the company, Principal named several senior vice presidents, including Renee Schaaf as chief operating officer of the international operation.

“Deanna clearly distinguishes herself as the most qualified candidate for the CFO position,” Houston said in the statement. “Deanna’s prior experience at running one of our most successful businesses and strong financial expertise uniquely qualifies her.”

Strable joined Principal in 1990 as an actuarial assistant. She will retain the insurance role until a successor is named, overseeing the individual-life and group-benefits operations. A native of Iowa, she has a bachelor’s degree from Northwestern University in Illinois, according to the statement.

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