Deanna Strable, an Iowa native, will become the next CEO of Principal, succeeding Dan Houston. She will be the company's first female chief executive.

Principal Financial Group announced Tuesday that Chief Operating Officer and recently named President Deanna Strable will take over as CEO on January 7, 2025. Principal’s board of directors appointed Strable to replace Dan Houston, who will continue to serve as executive chair of the board. Houston will step down after about 10 years as CEO.

Strable will be the first woman to hold the role at the $20 billion recordkeeping giant, following Dan Houston's decade-long tenure of leadership.

After 35 years at Principal Financial Group, Iowa native Deanna Strable is set to take the helm of the Fortune 500 company in January

Deanna Strable will step into the role in January. She succeeds Dan Houston, who served as president and CEO since 2015. Strable has spent 35 years with the company. She previously served as CFO before being appointed president and COO earlier this year.

Principal Financial Group announced today that the board of directors has appointed President and Chief Operating Officer Deanna Strable as its next president and CEO, effective Jan. 7, 2025. Dan Houston will continue to serve as executive chair of the board.